Another point is the bilateral pricing game Ioneer can play with the different boron content in the ore. So they can stock pile ore reserves with different boron/lithium content and send the ore through the refining plant based on lithium prices. Boron is stable pricing so they can send through high boron content ore and produce the least amount of lithium during low lithium prices and then ramp it up when the price is above $10k for lithium carbonate.
So it is not just as straight forward pricing as say a lithium spodumene producer who has one raw product to sell. There's huge advantages to having a lithium/boron ore mined in one product with different content percentages. It's not really just lithium price that determines their profit margins.
INR Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
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