Not impressed with the presentation on at least two counts:
1. likely more than half of Arcadium shareholders still are in Australia and yet Pall Graves made no effort to promote the conference call in Australia. Surely they could have. Resmed does. Arrogant dickhead! (not sure what Peter Coleman is up to???)
2. Also, absolutely no mention of cash flows or cash balances for the quarter and hardly any comparative metrics. In other words, a bunch of data but very little information. As they say, if you can't dazzle 'em with brilliance baffle 'em with bullshit. (Yeah, yeah, EBITDA is sort of a proxy, but not the real thing).
3. Here's a bonus!. It turns out that Mr Graves is not just a pom, he's the classic whingeing cringing pom. A sample:
"Arcadium Lithium’s expansionprojects are forecast to be amongst the lowest costoperations globally when completed, and we remaincommitted to developing all of them in the coming years.However, the market today is clearly indicating to ourindustry that accelerating the delivery of additional supplyvolumes is not what is needed if the market is going to bein balance. We have therefore decided to slow down the pace of our own expansion plans by pausing investment intwo of our four current expansion projects." (my emphasis)
What a wuss!!! He is telling us that Arcadium's projects are firmly in the far left of the cost curve, and so are among the most cost competitive projects in the world but he is going to sit it out while others establish themselves in the marketplace! FMD! There's a reason why Livent went from being the leading lithium products company in the world when Graves took it over in 2018 to being back in the pack when Livent "merged" with Allkem last year. As a mining / chemicals company leader it turns out that Pall Graves is a very good investment banker (his mindset is all risk, no opportunity).
By way of stark contrast people should listen to Ken Brinsden's Patriot Battery Metals presentation at Diggers today. Unlike Pall Graves who was parachuted into running a lithium company KB has already made one world class lithium mining company from scratch, in Pilbara Minerals, and is on the way to making another one, in Patriot.
https://www.you tube.com/watch?v=fJKOwnRvIMs .................. (remove the space between "you" and "tube" to bring the link back to life)
Hey, Rio!!!! FFS, come and take us!!!!
(20min delay)