The Fitch report around October last year indicated supply gluts for 23/24, with an estimated price of 20-30 000 US, then rising. The price over the last 6 months has actually been a bit of a blessing for the company, as elevated tin meant more funds earned to spend on CAPEX , and to help insulate against inflation.
If the USD can stay strong for another 3-6 months, hopefully all the new projects can come online and provide more efficiencies , before a AUD surge rips the arse out of that pittance that the company earns of late.
Maybe there might be a chance of buying out the JV, which might invite some investment into the future. At present, JV's are a massive red flag for fundies and being a Chinese JB too is on the nose in this current environment.
Unfortunately, the board will now actually have to think and work for their money, as a sliding tin price, more inflation, and OP needing to run away, will probably cause the SP to hit the 24.5 price again, or maybe even nudge the 18.5, which would be an absolute bargain!
Let's hope too that Indonesia decides to continue with plans to try and become a tin 'hub' , and reduce some of it's supplying direct to China.
Maybe time to put the shares in the bottom drawer for 6 months, and let the general market pain wash over the SP, and see where it lands towards Christmas.
Ah, well. I would only have spent the profit on frivolities anyway!
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