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What is behind our Galaxy's falling share price?, page-567

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Ninja Tuna

2,853 Posts.

996

06/02/19

10:57

Post #: 37346160
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Originally posted by yanlin: ↑

Yes, here is the transcript of that announcement:

Mineral Resources Limited (ASX: MIN) (“MRL” or the “Company”, on behalf of Reed Industrial Metals Pty Ltd which owns and operates the Mt Marion Lithium Project (“Mt Marion”, advises that the sale price for 6% spodumene concentrate shipments for the March 2019 quarter will be $US791.84 per dry metric tonne (“dmt”, compared with US$930.80/dmt for the quarter ended 31 December 2018.

Reed Industrial Metals Pty Ltd is owned 43.1% by MRL, 43.1% by Ganfeng Lithium Co. Ltd (SZAE: 002460) and 13.8% by Neometals Ltd (ASX: NMT).

That is a 15% reduction in price quarter on quarter. This is consistent with the numbers that Alan Rule indicated (although somewhat incoherently) at the quarterly conference call.
Maybe the analysts can re do their numbers based on a spod price closer to US$800/ t rather than something starting with a "6"??

It's not all doom and gloom..... and the big boys know it. They are simply shaking out the weak hands.

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And Mt Marion usually gets lower price than Mt Cattlin spodumene in memory

not advice

GXY Price at posting: $2.08 Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

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