The profit and dividend are, respectively, recent and unprecedented phenomena, and the Chairman himself cautioned shareholders to expect deteriorating conditions, particularly in Europe.
Given multiple years of false dawns, the market is justifiably sceptical.
And even when (if) magnesium starts to flow at Golmud, those with an eye on the geo-politics are probably going to temper their enthusiasm for a business whose future is tied to China.
Ann: Magontec Press Release 2022 Annual Result, page-6
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