Bit of a grind of a quarter with not much to see, there'd be...

Bit of a grind of a quarter with not much to see, there'd be frantic pedaling going on in the background to get to this point.

Costs up 10%. Ilmenite and SR production down or curtailed, ZIC up (due to poor quality zircon, possibly others better placed to comment?), rutile production appears lower, REE business in the red with capital and time blowouts, the EV and renewables market also under duress which may flow onto RE, 20% lower zircon sales and price, customers 'demonstrating a degree of caution', free cash flow negative $74 million (I read less dividends coming our way). Future prospects skint with only REE, Balranald (seems in limbo if you read between the lines), and Wimerra-huh? copping a mention.

The business improvement consultants out there will be licking their chops and lining up at the door to get their share of the pie and 'reduce costs, streamline capital spend, identify sustainability initiatives, improve productivity and enhance overall business efficiencies aligned with corporate strategy and values to improve profitability during adverse market conditions'.

I worry about this long-term, the lucky days appear to be over and the REE play needs to be closely watched. With a 50% eradication of share capital in 12 months, the price is likely reflecting market sentiments and conditions too.

Be a blow to the MD and the exec's egos too, its tough out there and things don't always fall into place even if its commanded to do so with all the best legal and accounting speak money can buy. Looking at the remuneration report they're not going to go anywhere fast so now they'll have to really earn their keep, the institutional investors would be ringing the call line red hot with desires for an 'update'. I dare say the Govt with their no-strings-attached $1.2B loan will also be requesting afternoon tea, scones and a catch-up.

Still, a long term hold with potential upside if the REE works out well. Thing is, is it possible that there are other investment options out there where one can deploy capital more effectively (and with less risk) at the moment? This SP appears to be at a pivotal point.
GLTASH.