Yes, let's think about that. Since the consolidation last year:
- NdPr prices have halved
- Capital cost (to MREC) has blown out from $650m to $950m
- Stage 1 concentrate only now with lower payablity and currently unprofitable
- Cash has fallen from $137m (Jun '22) to $102m (Jun '23)
- Invested $150m in Neo which is now worth $87m
- Revolving door of senior management
The fundamentals for the project looked good 18 months ago, and it appeared there was a clear pathway to production by late 2024. Now its unclear when production, will commence, hence the low valuation. Maybe its oversold, but what value do you put on an uneconomic project?
Ann: TK Expanded Offtake to Meet Bankability Requirements, page-32
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Last
27.5¢ |
Change
-0.005(1.79%) |
Mkt cap ! $56.75M | |||
| Open | High | Low | Value | Volume |
| 28.0¢ | 28.0¢ | 27.5¢ | $34.76K | 124.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 79950 | 27.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.0¢ | 3059 | 2 |
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| Last trade - 11.11am 01/08/2025 (20 minute delay) ? |
| HAS (ASX) Chart |