Well, I read thinking this is not too bad at the start of the report, to thinking the report was quiet informative in the structure, until I read it thinking information is being withheld, and more disappointing information HAS been withheld. Revenues to me were less than I had thought, cashflow basis even less. Received the carbonate / hydroxide report, but just says Management are reviewing it. More like they are reviewing the entire position not just carbonate or hydroxide. Surely they hae had vision of the direction of the report for sometime now.
Little "colour" of explanation in this report, which only says to me more of the same.
The only positive was the increase in cash position, more questions than direction in the rest of it. The final disappointment is the 2024 guidance, ..... when did they know this, surely known sometime ago, yet after first shipment and stockpiles of spod 226ktons didn't appear to be questioned. This is just as bad as CXO and other shocking companies going through start of production aiming for nameplate. Don't delay to a quarterly when previously everything is rosy, on budget.....
Having said all of the above negativity, I have just met my partners friend who works at a huge lithium company, and even for them its just hard work. Missed budgets.... so as speculative investors we should bear this in mind, which says to me perhaps not to put too much money into speculation. It's just disappointing after the continuous ramp up of good news for years.
Well, not much choice in it now, focus on getting nameplate, sort out and communicate if the JV is fully functioning as intended, or dissolve it. Any grounds broken by PLL then play hard ball. Then get the carbonate plant for NAL up and going. I've been here since Altura, faith has not only been tested but severely dented these last months. It explains why the SP has been all over the place. The market knows all! I'm surprised the price hasn't been hit too hard today, the market obviously knew all.
For me to be so negative is unusual.
Better days to come I hope for all serious retail holders.
Surely we have an accurate picture now, not necessarily by what has been said but what has not been said for so long now. Definitely bottom drawer now for the remainder of my holding. The positive is we are producing, and hopefully the lithium price recovers giving us first movers advantage.
GLTHA
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