Yes, let's think about that. Since the consolidation last year:
- NdPr prices have halved
- Capital cost (to MREC) has blown out from $650m to $950m
- Stage 1 concentrate only now with lower payablity and currently unprofitable
- Cash has fallen from $137m (Jun '22) to $102m (Jun '23)
- Invested $150m in Neo which is now worth $87m
- Revolving door of senior management
The fundamentals for the project looked good 18 months ago, and it appeared there was a clear pathway to production by late 2024. Now its unclear when production, will commence, hence the low valuation. Maybe its oversold, but what value do you put on an uneconomic project?
Ann: TK Expanded Offtake to Meet Bankability Requirements, page-32
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
28.5¢ |
Change
-0.005(1.72%) |
Mkt cap ! $53.82M | |||
| Open | High | Low | Value | Volume |
| 29.0¢ | 29.5¢ | 28.5¢ | $43.97K | 151.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 39134 | 28.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.0¢ | 677 | 1 |
View Market Depth
| Last trade - 16.10pm 17/06/2025 (20 minute delay) ? |
| HAS (ASX) Chart |