You know full well that the 1st half getting started for a juggernaut multi-billion dollar mega mine is like every other business that starts out - with a loss.
We have all been through this discussion before, and no, there were no rose coloured glasses. Only biased against LTR glasses by an odd minority.
You are struggling to recognise the fact that 1/2 way through the first year of production commencement entails most of the initial cost outlay, which evaporates during the ramp up stage as profit starts to take over.
This is a great 1/2 yearly. Only a $15M loss during early days. That is nothing compared to the profit LTR will be making as time passes. Also, remember we are in a pricing cycle that is unfavourable to producers right now. As demand increases and overtakes supply, the profit will increase further as the debt decreases.
True LTR holders know how great the future is going to be IMO. GLTAH (real holders that is.)
LTR Price at posting:
62.5¢ Sentiment: Buy Disclosure: Held
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