G’day all.just a so so report, imho. Only made $800,000 profit....

G’day all.

just a so so report, imho. Only made $800,000 profit. Worse, domestic sales after all this time and effort were just 17,522t for the quarter. They’re selling at/below total cost (including very high freight) into export markets. Don’t know what they bother if not making any money.
they keep saying they’re focusing on ramping up domestic sales, but numbers still very small. Not going to change anything here until they either get significantly higher domestic sales, or the IO prices improves.

ive already sold 75% of my holding and am looking to sell the rest if we can wriggle the price up a bit.
this has been an extraordinarily disappointing stock. So much promise. But it’s taught me the dangers of playing in the highly volatile IO market with the higher cost producers. I also sold out of FEX & MGU.
i took a decent position in HIO around 10c avg, a while ago & am quite happy to sit on that for the next year or so. It should get cracking in q1 next year with bfs and offtakes sorted. HIO makes money at the very bottom of the IO price cycle. I’ll only invest in IO of this type in future.

cheers,
Ned.