After the first two months we are sitting at ~$130m.
June/July is when the NdPr price has (according to model) bottomed out, so we will see what that means for the quarter as a whole. May NdPr sales price was $103, June is set to be $98, while bottom is reached in July @$90.
Orange NdPr spot (AUD, June inclusive), teal LYC sales price (AUD, May inclusive).
Let's hope this is really the bottom, the economy in China is expected to come out of the slump the second half of this year, which will support a higher NdPr price. At the moment the main priority is to get Kal up and running, the price will take care of itself in time.
LYC Price at posting:
$6.94 Sentiment: Buy Disclosure: Held
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