If you interpret the update correctly, then the nominal value...

If you interpret the update correctly, then the nominal value production seems to have unfortunately still not occurred.
Part of the new plant will be delivered tomorrow and installed immediately, which should result in a higher production rate and better quality of ore.

The effects of the higher denomination and better quality of the ore will then probably only be felt in the next quarter (July-September), with hopefully no further increases in shipping prices and stable manganese prices - assuming of course that the improvements to the plant have an effect!
I remain cautiously optimistic with today's update regarding manganese ore production as there is no certainty that the improvements will actually lead to a profitable business - which of course I wish.


Petra Capital appears to be pretty accurate and therefore have no illusions that this year will be profitable despite the progress released today. Petra Capital has forecast a loss of A$12.1m in 2022!

Nevertheless, I personally maintain that the opportunities at the current level are higher than the risks, especially as far as the future HPSM business is concerned, which is why I am not selling!