notwithstanding the share price movement, the announcement is horrible. It appears the IO mine they are closing has the best grade of them all. Onslow’s impurities are high, contains 7% moisture and the grade only 58%. Pilbara has lower grades now of 57.2%, down from 57.9%, a discount of 18% and moisture of 12%. It would barely be profitable after taking into account freight, sus cap ex, royalties and tax
No update on the rehabilitation costs of yipgara either
its debt position is horrible. $4.4b net debt or $5.3b gross debt when you add back cash. Much of it is USD debt with a poor AUD. They also paid $200m on 1/7/2024 as well to red hill. They still have quite a bit of cap ex to complete the toll road and still have a lot of ore to mine as they ramp up.
The figures even for lithium appear good as it is the weighted avg for the quarter. April prices were much higher than present. If you are to compare the spot to the weighted prices reported for the quarter, you will see just how much more cashflow has deteriorated
The media and analysts seem to love MIN but I just can’t see any positives with min at the moment
Ann: FY24 Q4 Quarterly Activity Report, page-43
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Last
$50.99 |
Change
-0.740(1.43%) |
Mkt cap ! $10.02B | |||
| Open | High | Low | Value | Volume |
| $50.86 | $51.23 | $48.80 | $99.49M | 1.974M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 123 | $50.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $51.00 | 72282 | 6 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| MIN (ASX) Chart |