Well yes the SP is cheap compared to a few years ago. Especially in the lithium boom.
I am not convinced of the company position atm. The $1.8B in revenue for the sale of half the haul road and the O&G to Gina was all absorbed back in to running costs with debt still above $5B which is much higher than I was expecting.
Whether costs have been front ended or not for Onslow etc that is a vast amount of money to receive and have no material change to debt.
2 lithium mines should just be slightly profitable. Onslow profitable. The next quarterly will be interesting because management will not be able to hide behind and B.S when it come to the revenue, profit and debt numbers.
If there is an improvement then things will be looking up for sure.
MIN Price at posting:
$32.35 Sentiment: Hold Disclosure: Held
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