Hi all
The report states that finished spodumene concentrate stock was written down to a net realisable value of $6,933,000. According to the quarterly activities report, spodumene concentrate stock on hand at 30 June 2020 was 17,978 dmt. That puts it at $385 per dmt. Is this stock lower spec product or does it reflect management's expectation of realised prices for the year ahead?
With prices as low as they are, PLS needs to get as far up that cost curve as possible this year. There are murmurs that Chinese stockpiles are starting to slowly run down. Could this mean that PLS's offtake partners are in a position to start receiving increased product quantities this year? If not, we must be getting fairly close to C&M?
Cheers.
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- Ann: 2020 Annual Financial Report Announcement
Ann: 2020 Annual Financial Report Announcement, page-85
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