Fair bit of disappointment across the market it seems but not unexpected. Oz delays were always going to come through despite the enthusiasm here.
How do they sell low grade sconcentrate for usd589/t and cxo sells dso for usd950/t. Thats a big gap given dso requires much more intensive processing downstream. Are they looking after their offtakers and if so why given the market shortage, is the material more contaminated than dso, lot left to be answered.
Today's share price drop is pretty mild given the result, perhaps the correction will come when analysts rerun their numbers. Fy23 setting up to look pretty weak vs consensus broker expectations based on previous forecasts.
Aimo
AKE Price at posting:
$14.23 Sentiment: None Disclosure: Held
