Agree with your assessment. The last time we were in this situation (where asset values were at or below cost) we didn't see a turnaround until there were meaningful cuts in production/ development. We saw a number of players go under (Altura & Alita) and we saw production cuts by PLS, MIN & at Mt Cattlin.
This cycle has seen a slight reduction at Greenbushes and the shuttering of mining operations by CXO.
It looks like we will need to see a couple more significant announcements relating to production cuts before the analysts/ BEOT start reentering the sector.
Give it 12 - 18 months at best based on current expectations.
General Discussion, page-1590
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Last
$3.57 |
Change
-0.050(1.38%) |
Mkt cap ! $1.247B | |||
| Open | High | Low | Value | Volume |
| $3.66 | $3.66 | $3.55 | $6.360M | 1.768M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 75000 | $3.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.59 | 7385 | 3 |
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| LTM (ASX) Chart |