The problem E25 now faces is the manganese ore price, if anyone bothered to watch the latest OMH investor report you'll note that the Mn ore price hit a high of US$8.05/dmtu but has since collapsed down to US$4.50/dmtu.
The graph shows it all on the OMH investor presentation.
E25 did get a good price for the quarter, the problem is the payment whilst already made its subject to final price settlements which usually occurs in the next quarter. So whilst the price may've been high at the time of original payment the price is adjusted to the time of delivery. This is standard proceedure.
So its possible that E25 can breakeven when the manganese price is at US$7.00/dmtu and above as per the Sept quarter. The manganese ore price is now back to US$4.50/dmtu and likely to go lower as supply is far more than demand. Next quarter will be a shocker in my opinion unless the can trim C1 costs, which is never mentioned.
It's a disgrace that theres still no mention of C1 costs.
E25 Price at posting:
$1.11 Sentiment: Hold Disclosure: Held
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