Business will be transformed by mid year, generating significant cash. Currently at peak debt, comfortable with it given above point. Bond holders in US have no concerns, bonds still trading at a premium. Sale of Yilgarn is work in progress. Costs reducing in lithium, will be profitable in next half. Lithium price seen to be recovering - better prices in January than December. If prices get to 20+% higher might see restart of Bald Hill. Committed to keeping Wodgina, Mt Marion operating (no chance of a care & maintenance). Will be spending a bit more on oil & gas drilling.
Overall, they are saying the next half will see improvements in revenue in mining services, iron ore (Onslow) and lithium. The second half of 2025 should see lots of cash. Yet to decide how they will use that cash.
MIN Price at posting:
$35.49 Sentiment: Buy Disclosure: Held
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