This stock just can't catch a bid - I don't know if it's because of a change of sentiment towards all base metal miners or because of the disappointing FY22 metal forecast or thoughts that the Jameson Cell is not going to live up to promises or the potential threat about another capital raising to fund the Silver King development.
The macro has improved so much over the last year for this stock - in early July last year, the shipments were being priced at $A1.31/lb and now they're being priced at $A1.83/lb. Treatment charges in the Sept quarter last year were 29c/lb and now it is 18c/lb.
Mid-guidance for FY22 has them selling 250mil payable lbs and we can see from the above that they'll be getting 63c/lb more compared with what they were getting this time last year - that's an improvement of $A157.5mil in net sales revenue.
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