Comparing the MC's of LTR and Elevra, other than the fact fhey both produce spodumene, is rather meaningless IMO. LTR has a very large high quality, low production cost resource with KV that's already cash positive well before ramp up is even complete but it also has considerable debt. On a cost per tonne basis NAL can't compete with KV and was never expected to, different companies with different scale operations , different jurisdictions and different mining issues but at the right spodumene price both can do well.
For me LTR is overvalued given its debt and earnings profile at current Spodumene prices but thats for the market to determine but it is a well run company as is Elevra and both have had their shareprice smashed for obvious reasons.
Cheers Whisky
SYA Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
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