I think the $362 million loss is peanuts considering how easily it was covered by the current strong cash position. This is an investment towards more future efficiencies. The potential of the Calix and POSCO joint ventures are also expected to reduce shipping costs and provide additional revenue streams. It will be well worth putting up with these recently depressed spot prices to remain ahead of the competition IMO.
Ann: March 2024 Quarterly Activities Presentation, page-16
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