Apart from movements in the i/o price, it looks like a bottom to me. In order to hit the middle of FY17 EBITDA guidance ($500m), the company needs to generate $220m of EBITDA. It delivered $280m 1H17.
Whats different in the 2H17:
1. The iron ore price is higher;
2. Crushing volumes are up;
3. Lithium sales at both Wodgina and Mt Marion start in the 2H17 - this is huge with Galaxy guiding US$905/t for similar lithium product to Mt Marion.
In terms of WTF is going on Downanount, the US substantial holder is gone and Perpetual is buying. The stock looks like it should upgrade guidance, the 1H17 result was a cracker and well above expectations. Apart from i/o stocks moving around, it is hard to go past this one as having large near term upside.
Has this horse been nobbled?, page-4
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Last
$34.95 |
Change
-2.710(7.20%) |
Mkt cap ! $6.868B | |||
| Open | High | Low | Value | Volume |
| $36.45 | $36.59 | $34.65 | $92.68M | 2.617M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 516 | $34.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $35.05 | 50 | 1 |
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| Last trade - 16.10pm 13/11/2024 (20 minute delay) ? |
| MIN (ASX) Chart |