Iluka is so heavily pregnant with wolverine that can only be appreciated with the slide I borrowed from Iluka's presentation few days ago.
They are gonna spend $1.65billion of tax payers money and $450 million of their own money on this refinery. Scenario A and Scenario C below doesn't really stack up. Scenario A leads to a massively under utilised refinery and a poor basket composition (not enough dytb) that they will struggle to sell. Scenario C has poor economics - Just 7-8 years of life.
Scenario B solves both problems. NTU is now as strategically important as the Eneabba refinery itself.
NTU Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)