OBM's ASX announcement on 30 October 2023, "Ora Banda Signs Transformational $26 million Lithium Focused JV with Wesfarmers Chemicals, Energy & Fertilisers," may in the short term not be so lucrative.
Worldwide oversupply and China's attempts to maintain its dominant position in the market has brought about price weakness and led to a fall in the marginal cost of production for lithium chemicals, which has allowed prices to go below what was previously seen as the marginal cost of production for the industry.
Whether it's a short - term issue remains to be seen, but in the meantime will it have an effect on the gold focused OBM's share price?
Lithium Query
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33.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $621.9M | |||
| Open | High | Low | Value | Volume |
| 34.0¢ | 34.3¢ | 32.5¢ | $588.2K | 1.749M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 12630 | 33.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 34.0¢ | 8000 | 1 |
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| OBM (ASX) Chart |