Yeah absolutely. Haul road in the scheme of a 10 year window is only a minor issue. Its only because the current obsession to pump put the IO because of the debt made it a huge issue.
The steel tariffs is a pretty heavy blow. Management could never have factored that in.
The over extension on lithium was a terrible decision in heinz side. Some analyst were clearly saying an over supply was looming so management need to own that error.
All the negative factors combined has created a terrible situation that at current IO & Spod price I don't think the debt first repayment is covered without some change.
Extra money from Hancock gas deal and nameplate IO goes a way but the lithium price is destroying this business. The IO side is good.
MIN Price at posting:
$18.50 Sentiment: Hold Disclosure: Not Held
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