[ATTACH] I think they deserve a huge pat on the back for the...

I think they deserve a huge pat on the back for the first point on retention of people and keeping them safe.

- This is especially significant for me   given the ‘labour shortages’ theme of multiple other sector companies in their quarterly results

(including FMG; IronBridge, BHP, Ramelius, Silver Lake, Newcrest, MACA, Pilbara Minerals, Evolution Mining and more, plus analyst expectations such as those by UBS in the AFR a fortnight back [see here]).…..​

And perhaps this success in the face of so much delay and other pain elsewhere highlights a significant point -  that IGO is operating and part of established projects with a largely contented workforce and so not so much party to the crazy scramble going on in WA right now.

But the ‘continuing progress towards first battery grade product’ at Kwinana is disappointing given last August when first successful production of non-battery grade hydroxide was announced [23/08/21 announcement], IGO wrote first sales of non-battery LiOH were expected by last December and battery grade hydroxide was expected in the March quarter with full production due following  a minium of nine months ‘ramp up’ after that.

  “It is expected that saleable product will be produced in the December 2021 quarter and that battery grade product for accreditation by customers will be produced in the March 2022 quarter. ​

Train 1 is expected to then progressively ramp up to the design production rate of 24ktpa lithium hydroxide by the end of 2022.”​

- Hopefully Lithium Hydroxide prices will continue to rise, and competing new plants (mainly the most advanced one, ie  Albemarle’s at Kemerton in South West WA) won’t beat the Tianqi/IGO operation into the  ‘first ever LiOH’ Australian headlines.

cheers

PS … no mention of supply chain shortages either??