Yes, but SGML can make a profit even at $900/t, as can PLS. SYA just can't turn a profit (even when spot prices are between $1,000/t - $1,100/t). SMM reports SC6 (as at today) - $911/t.
The last three quarters unit operating costs for SYA (and we all know that these costs aren't anywhere near all-in):
Oct - Dec - $910
Jan - March - $1001
Current - $964
If the realised price for SYA was $604/t for the most recent quarter (when spot prices were well above $1k/t), imagine the carnage this quarter given that it looks likely that spot prices will average somewhere around $850/t-$950/t.
Also worth noting that the current quarter for SYA had a 33% reduction in ore mined.
General Discussion Topics, page-141874
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