Looks like the news leaked out this arvo & site visits were underway today also
SHORTS got smashed.
BULLISH FIGURES here.
Month to Month shipping summary -
April 1.3 MT pm = 15.6MTpa run rate
May 1.9MT pm (done 1.7MT already) - UP a whopping 46% shipped m.o.m = 23MTpa run rate
June 2.3-2.6MT pm - UP a whopping 29% m.o.m = 30MTpa runrate
Market expects way way less production, around 15mtpa (april figures) at the current SP at high costs
The month on month ramp up of shipped IO is STUNNING
the guided ratio of 29-31MTpa for June is a massive 90% increase on April
and they are predicting a 29% rise in shipments from May to June
the guidance drop is 0.7mt, a nothing burger, 8%
"For the month of May 2025 to date, Onslow Iron has shipped 1.7Mt. Over the last seven days, an average 74kt/day loaded on to ocean going vessels, with several days during May above 80kt, and 100kt loaded on a single day. It is expected that 1.9Mt will shipped during May (April 1.3Mt), equivalent to a run rate of 23Mtpa. The significant month-on-month increase highlights the acceleration of Onslow Iron’s ramp up, with the project remaining on schedule to achieve its nameplate capacity of 35Mtpa in Q1 FY26. MinRes anticipates shipping circa 2.3-2.6Mt in June, equivalent to 75-87kt/day and a run rate of 28-31Mtpa."
SHORTS seem stuck in April and cant see the ramp in production and shipping at all.
a 90% increase in shipped IO April to June is MASSIVE if not STUNNING
What other IO producer can claim a 90% production/shipping increase at any IO project globally right now? NO ONE !
WTH is this doing sub 30-40 ?!
SHORTS going to BURN badly tmrw too looks like.
MIN Price at posting:
$23.75 Sentiment: Buy Disclosure: Held
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(20min delay)