A stockpile of 70K odd HMC does not put IMA in a good position to improve on the $515/ton* received in the Mar Qtr ( Forecast $585/ton) given that the Chinese offtake customer balked at the expected April shipment .
Management's excuse : We were too successful in our ramp-up which caused our "full production offtake partner" to not accept an April shipment.
Sounds like pollyspeak, IMO.
IMO, the company should release the pricing formula for its HMC offtake deal; otherwise Mr Market may have reservations. The alternative, IMO,
is a published spot price sale and IMA has the stockpile to flog 40K ton on the spot market, IMO.
* This is low considering the above Zircon %age in the HMC sold.
Ann: MINES ULTRA HIGH GRADE ZIRCON-RICH ORE, page-9
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