COMPARING 4Q18 To 1Q19 We can notice a substantial reduction in quantities of iron ore and Lit DSO
Iron ore shipped Qnty dropped from 2215 To 1620 . that's 73% of the previous qtr not sure of price received
Lit DSO shipped Qnty dropped from 754 to 422 thats 56% of the previous qtr. price could be slightly higher for last qtr
SPOD nearly equal amount sent with higher grades this Qtr with mostly 6% LI concentrate.
These large variation for the first , second and probably third Qtr as well, will impact revenues, as first train of 250,000 spod " is expected to begin commissioning in Q3 FY19" with the 8 weeks delay announced.
This annual fluctuation in revenue plus the uncertainty of the spod plant success as well as pessimism around Lit future price may have produced the downward pressure on SP.
( markets in volatile times could be short sighted and nervous, large funds work and milk it to their advantage and short the stock)
All that can be wiped out on the day an announcement of the Wodigina partial sale for a large sum.
Lit prices as i understand are holding well and are negotiated higher.
Management has announced that there are some local and overseas parties keen on investing in Wodgina, by Dec /18 the market will know either way with MIN keeping the option to go all alone if they wish.
Once all is working and the big bucks roll in as of 4qtr19 and onto FY20 WE Then start to look in to the next jump in scale with the Lithium Hydroxide plant. definitely interesting times ahead as MIN is transforming.
Long term i am a happy holder , the Div is a huge incentive. will buy more on lower SP
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