Tomboy calm down with "50MTpa at Onslow may well be hit by September at this BOOMING rate"
Here we jumping to the 50Mtpa narrative, and the very next day, a truck rolls over and the stock drops 40%.
Right now, safety and consistency matter more than chasing 50Mtpa headlines. If reaching 50Mtpa were so straightforward, why would management downgrade the June output and push guidance for nameplate capacity to start from September? Don’t tell me it’s just them being conservative.
We were trading at $27 before that downgrade — had they reaffirmed 50Mtpa, the market likely would have responded positively, and the stock could easily have been back above $30.
The first priority should be proving we can sustain 35Mtpa across a full quarter so we secure funding from Morgan Stanley.
Also, I don’t buy the fearmongering about $70 iron ore next month/quarter.
MIN Price at posting:
$20.69 Sentiment: Hold Disclosure: Held
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