The market is taking a pessimistic view of 2024 results in my opinion. I think BEOT will move eventually. If you take last results average realized price of $4993 USD/dmt x low guidance of 600,000 tonnes and high costs of $610 AUD per tonne plus the capex forecasts of $465M you get an approximate profit result of $3.5Bn AUD full year. Depending on which forecast you prefer, consensus is price will drop in 2024 to $4200 USD/dmt. If P680 comes online in CY23 and costs moderate as guided by the company, even at the lower spod pricing, profit is the same as 2023 unless the Oz dollar recovers materially. Nothing is being factored for POSCO 1st train in CY2023, M&A, any change in price, production at top end of guidance...contracted price is the relevant price. If a miner can supply the quantity, at quality, over time and to time they will always get more than benchmark....just my opinion. dumb to sell this company.. still got all mine from 26c..no intention to sell
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9 | 170757 | 3.250 |
11 | 585822 | 3.240 |
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16 | 218800 | 3.220 |
Price($) | Vol. | No. |
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3.270 | 20000 | 2 |
3.280 | 42718 | 5 |
3.290 | 303441 | 19 |
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