Re Mt Marion sale. Capital for 100% 6% product was already spent prior to acquisition. The plant was commissioned in Jan and is ramping up. 2H production guided at 232kt (464ktpa annualised) with 4% spod product accounting for just 15kt of production (down from 26%). Presumably aiming for zero productin of 4% in following half and likely some higher throughput too. So ... Mt Marion sale was based on a true 450ktpa++ SP6 mining operation (not a 380ktpa 'SP5" one).
I would caution anyone drawing a direct comparison here without considering mine level debt and therefore total enterprise value. Not sure what (if any) mine level debt the Mt Marion JV holds, or what debt a Pilgangoora JV would hold.
As a side note, Mt Marion received A$753/wmt for its 4% (off spec) product ... that'd be equivalent to A$1130/wmt of 6%. A surpisingly good price at only a ~15% discount to the 6% CRF price they achieved. Wonder if selling some 4% could be an option for PLS to improve production/yield/cash flow whilst they sort out the throughput/recovery problems?
Re Mt Marion sale. Capital for 100% 6% product was already spent...
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Last
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Change
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Mkt cap ! $12.06B | |||
| Open | High | Low | Value | Volume |
| $3.98 | $4.02 | $3.94 | $69.61M | 17.44M |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 15 | 384127 | $4.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
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| $4.01 | 158548 | 7 |
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| Last trade - 16.10pm 16/05/2024 (20 minute delay) ? |
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Last
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Change
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| Open | High | Low | Volume | ||
| $3.99 | $4.02 | $3.94 | 4868697 | ||
| Last updated 15.59pm 16/05/2024 ? | |||||
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