I can't comment on the granular level of detail (at what price Finniss could reopen), but I also don't think it's necessary to have this level of detail (because it appears to me that SC6 is going back towards $1k/t in the short term) (over the next month) and then who knows how long it might remain around those levels. On this basis, CXO would have no chance of reopening this calendar year.
But CXO aren't the only ones in trouble, and at least your directors made the correct call on C&M in a timely manner. SYA took months to run a strategic review and then decided they should remain open despite their deposit bleeding cash.
If SC6 ventures back under $1k/t (reasonable chance), then it won't just be CXO feeling the pinch. SYA would likely have to reconsider C&M, LTR may not even secure their funding, and definitely won't be cash flow positive (IMO). GL1 and DLI have no chance of progressing their developments. WC8 has a lot of cash so they can progress with work (but won't secure funding at these current spot prices). That would only leave PLS and MIN with the potential of being profitable lithium projects. What does this say about the economics of mining in Australia?
I obviously have a bias here when it comes to geography, but I think all the points I've made are backed up by data.
CXO Price at posting:
12.5¢ Sentiment: None Disclosure: Not Held
