Well the downgrades to guidance and production were somewhat expected by the market. The key issue remains the success of the road. The report provides a pathway to resolution, whether the market believes it or not is another story.
There are a lot of positives though in this report:
1. Lithium volumes are increasing and costs are down - somewhat unexpected. Looks like they are actually making money on lithium
2. Realisations on Iron Ore are very strong, they continue to go up.
3. Pathway to nameplate looks on track for FY26.
4. While the road is being upgraded they are able to utilise public roads and contractors on services roads. This is likely the cause of the higher cost guidance, which all things going well will cease in Sept 26. Given the high realisations this ends up being a net netural to profitability on Iron ore.
5. NO CAPITAL RAISE BEING CONSIDERED.
6. Expecting 2.7-.2.9 Tonnes for May and June.
I have no idea what's priced in to this stock anymore. The report sets a pretty positive tone for the future, no real surprises in this report. No extra Capx and pricing all looks to have suprised to the upside.
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Last
$32.32 |
Change
0.220(0.69%) |
Mkt cap ! $6.351B | |||
| Open | High | Low | Value | Volume |
| $31.41 | $32.98 | $31.28 | $105.8M | 3.266M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 200 | $32.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $32.32 | 41 | 1 |
View Market Depth
| Last trade - 16.16pm 25/07/2025 (20 minute delay) ? |
| MIN (ASX) Chart |