Considering the damage/outage of the wharf at Groote Eylandt and the impact this will have on manganese output. For S32 this will mean lower production into next quarter.
Additionally given Groote Eylandt is a major mine globally, the shortfall in production will create a supply shortage globally.
The usual market reaction to a supply disruption should result in higher prices until supply is restored or unlikely as it may seem given the short time frame new supply comes into the market to meet demand.
This should give our manganese operations in South Africa a boost, hopefully our operations over there can lift production in response to higher demand. One of the benefits of being geographically diversified.
I agree it's good to see the share price moving in the right direction. I doubt my explanation above can account for today's nearly five percent share price rise in a down day on the ASX, aluminium, silver and zinc have been edging higher recently.
GLTA - DYOR not advice
Considering the damage/outage of the wharf at Groote Eylandt and...
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Last
$3.53 |
Change
-0.070(1.94%) |
Mkt cap ! $15.98B | |||
| Open | High | Low | Value | Volume |
| $3.51 | $3.58 | $3.50 | $53.47M | 15.15M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 11737 | $3.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.53 | 37687 | 1 |
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| Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
| S32 (ASX) Chart |