The problem now is Mn ore prices are falling rapidly. E25 might be best to put the project on care and maintenance as every tonne they produce they're losing even more money. Currently not even producing at half the original projected amount.
"Official manganese ore prices are continuing to soften in China for November shipment. Tshipi lowered its 36.5% Mn price to $4.10 per dmtu, down 40¢ from September while Comilog (Eramet) reduced its 44.5% Mn ore price by 50¢ to $4.20.
Finally South32 cut its price by 25¢ to $4.80 for 45% Mn material. All prices are CIF China."
The 3 producers mentioned are still making money, E25 however is losing money hand over fist.
E25 Price at posting:
75.5¢ Sentiment: Sell Disclosure: Held
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