I stand by everything I wrote on 25/06 (above). Further to this post, the macro environment for lithium especially has deteriorated further. The P/E ratio it is trading at based on the likely profitability of the last 6 months makes some of the tech stocks in early March 2000 look undervalued. And to make matters worse the US debt it has drawn down to date is staggering.
pg 16 of the presentation says (net debt to underlying ebitda is 2.4x)
well based on the last 6 months, the amount of net profit after tax it would need to replicate to wipe out its gross debt will be an awful figure.
IO had another poor night as did lithium. have a good day.
MIN Price at posting:
$57.53 Sentiment: None Disclosure: Not Held
(20min delay)