Two wrongs don't make a right.
Incitec Pivot's decision to reinvest $80,000,000 into Gibson Island in 2020, then shut it down 18 months after the Strategic Review came to the conclusion to keep the business is bizarre. Even for those who predicted the plant closure was inevitable, the government holding their hand for another 2 years until Leigh Creek was in production, wouldn't come as a shock.
So why drop the Gibson Island bomb now?
If they choose to sell imported urea through their distribution network it still won't compete with Leigh Creek on price, not even close. Somehow I don't see the Australian agricultural industry exhibiting brand loyalty or a positive association with urea out of Saudi Arabia, Iran or anywhere else (that's more expensive than a homegrown Australian product).
Justyn Peters mentioned setting up their own distribution previously. Daelim would be more than capable of building warehouses and other structures. It wouldn't surprise me if there is a knock on the door from IPL before Leigh Creek start canvassing sites and making commitments of their own.
Once the finance is sorted you'd think all the leverage is with LCK, interesting times ahead that's for sure..!
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Last
0.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $15.21M |
Open | High | Low | Value | Volume |
0.8¢ | 0.8¢ | 0.7¢ | $11.63K | 1.554M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 5231121 | 0.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.8¢ | 1169684 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 5231121 | 0.007 |
4 | 2626166 | 0.006 |
4 | 3397010 | 0.005 |
3 | 3126250 | 0.004 |
5 | 11666666 | 0.003 |
Price($) | Vol. | No. |
---|---|---|
0.008 | 1169684 | 4 |
0.009 | 2130000 | 4 |
0.010 | 996617 | 5 |
0.011 | 461111 | 3 |
0.012 | 166666 | 1 |
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