Manganese prices aren't at their lowest, and likely to go lower as China slows.
Iron ore as you mention has gone down 50%, but iron ore is still high for high grade producers, LOW grade high cost producers are already closing.
E25 is a high cost producer and is already losing money, and is losing more and more as the oil price goes UP. The oil price would be linked to transport/haulage costs and its up over 10%. Since the oil price is linked to the haulage agreement then that 10% increase will add another $300,000 in haulage costs for one ship load, it doesn't sound much but its enough to break the camels back.
You only have to look to Shaw River manganese that when bust in 2016 when manganese prices went down, the Mn ore price did go back up but the company was already broke.
Its been tried to resurrect the company and relist as Rolek Resources but failed to get any takers, the Baramine project was 20% grade and is considerably less trucking distance to port.
E25 Price at posting:
$1.18 Sentiment: Sell Disclosure: Not Held
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