I assume everyone noted slide 4 where Q1 FY 20 expected price was $7250/t as opposed to $10322/t FY19 a difference of 3072/t which, all else being equal, will go straight to the bottom line. If production is up 5% to say 13,000t this difference would be close to $40mil and I assume the ORE share would be around $26mil. I know they seem to be making a lot of "statutory" profit because it is bigger but it is really underlying profit we should be looking at which was only 24.8mil. So..... at this stage, at current prices, we are looking at no profit or even a loss if lithium prices continue to slide in FY20.
No wonder the share price didn't take after such a "strong result"
P
ORE Price at posting:
$2.35 Sentiment: Hold Disclosure: Held
