One can't help but think they are having way more problems ramping up than they're admitting. They claim production is ramping "on track" for nameplate capacity (400kt/y) by dec'23. But Q3 production was 1.3 kt, or 0.08% of nameplate capacity. Even if you cut nameplate by 2/3 as they only have one shift operating, they are still operating at a level approximating zero.
The only good news is that in H1 they appeared to receive an average price of $339/t.
Too bad they weren't up to speed to capture this Ukraine induced price spike. At nameplate, that would be $67.9M in revenue.
In the recent "Webinar" Sorenson mentioned they'd received their largest order ever to be filled in April and May. Hopefully they can meet production.
Anyone got a detailed model for these guys?
One can't help but think they are having way more problems...
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