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Thanks Rocket. Looks like market conditions have begun to turn

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Honeyhunter

289 Posts.

25

28/04/24

16:55

Post #: 73545102
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Originally posted by rocket973: ↑

Maybe it will be TEMCO /Liberty smelter in Tasmania, S32 sold the Tasmania smelter to Sanjeev Gupta's GFG Alliance in 2020 and it had a contract for purchasing Mn ore from S32.
TEMCO is a major supplier of Mn alloys especially to the USA. " The TEMCO facility has four submerged electric arc furnaces, including a sinter plant and has the capacity to produce around 150ktpa of high carbon ferromanganese and 120ktpa of silicomanganese which is used in the production of steel."

I think the market may still not be factoring in the potential for a prolonged manganese shortfall, with the Groote Is mine off-line for the next 12 months this will definitely heat up the market.
Whilst OMH only holds a 13% stake in Tshipi, as I mentioned in an earlier post the profit per tonne mined is going up rapidly. OMH is also assured of product from Tshipi as they market the portion not done by JMS.
E25 could also start back in production as they'd be one company who has the potential to start shipping Mn ore. In this case OMH might use the ore themselves rather than on-selling in China as they were doing previously.

I would think that smelter margins would start increasing too.

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Thanks Rocket.
Looks like market conditions have begun to turn

OMH Price at posting: 49.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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Last 43.0¢		Change -0.020(4.44%)		Mkt cap ! $329.4M

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