I agree with Sewell's request that you raise this sort of stuff on the general discussion thread and keep this one a clean thread on production progress.
It's a consistent thing to see short interest increase just as you begin a series of negative and unfounded or exaggerated criticisms. If you're not a shorter, you certainly make yourself look like one.
On your issues:
A number of posts have separately, or in response to your comments, talked about the relatively low interest cost compared to expected EBITDA and the anticipated cash flow. You seem to ignore those posts. Provided their site costs are anywhere near their plans, they will have a large cash surplus in EBITDA to pay off debt, especially given current high bauxite pricing. And they have advised in announcements their intention to pay down debt rapidly.
You are suggesting they cannot control their silica content. All seems in control to me. They have a defined resource, including defined silica content, and have discounted their expected revenues for that.
Similarly with weather. They have a track record of operations, so we know the expected weather impacts. And their current and planned upgrades should give them greater resilience to that.
The long-term contracting point you make, I think, is valid, but much of 2025 is contracted, with longer term contracts under negotiation. And debt will be substantially reduced over just a few quarters. We'll see on their success in contracting longer term.
MMI Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
(20min delay)