Yes .. And then IO surged from mid 30s to 100+.
Your comparison is only relative if lithium surges from 800 USD per tonne to 1400 USD minimum and then some. Lithium outlook is dicey and thus the near term future of MIN is week.
If lithium recovers well then we will get a similar result which is what we all want. It just seems folks almost have concluded the fantastic recovery is a forgone conclusion. Which is not the case right now. It could get worse before it gets better.
Ann: FY25 Half Year Financial Report and Appendix 4D, page-244
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