The Balama ore reserve was interesting. The TGC% increased to 17.9% but they said they'll get ~19% out to 2047. The higher grades must be near the top as they dig further into the resource. I noticed their grades had increased but thought they may have hit a better pocket and it was temporary. If they get their recoverables to 90% as they hope, both will help lower the C1 costs.
Net loss was only $26.9m which wasn't too bad considering the circumstances. They only averaged a sales price of $661/t for the 162kt sold which is ~$100 below current market prices and ~$180 below 2022 prices. Shipping cost are down somewhere between $150-$200 per tonne.
(162kt x $100) + (162kt x $150) = $40.5m - This doesn't include lowering the C1 costs and they hope to sell a minimum of $240kt this year
Ann: Balama Reserve and Resource Update, page-2
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Last
33.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $346.6M | |||
| Open | High | Low | Value | Volume |
| 33.5¢ | 34.0¢ | 33.0¢ | $1.826M | 5.453M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 39 | 1485715 | 33.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 33.5¢ | 148900 | 1 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| SYR (ASX) Chart |