-Revenue in line with expectations. -High cash burn, also in line with expectations. -We've passed the valley, time to head for the peak.
Significant takeaways from the report includes the expected ramp to 1,500t NdPr in the current Q, and 1,700-1,900t in June Q (which likely translates to ($150-200m in revenue, assuming prices stay ~same). Q3CY24 we should be at a run-rate of 750tpm (say ~2,100tpq).
@ausheds Another key takeaway is the re-start of LAMP (01/01/24). I have now even less doubts that LAMP is still limited by annual processing limits. This is likely being addressed as it is now unlikely to receive any political opposition given that Malaysia sourced REE may become a future feedstock for LAMP. It will be very interesting to see how they balance C&L between Kal & LAMP in 2024.
As mentioned before, we have an exciting year ahead, and things will look much rosier from now on (not investment advice, DYOR).
(ps I'll take this opportunity to say thank you for everyones congratulations!)
LYC Price at posting:
$5.88 Sentiment: Buy Disclosure: Held
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