"...Ganfeng Lithium also released its performance forecast, with an estimated loss of 760 million to 1.25 billion yuan in the first half of the year, and the company made a profit of 5.85 billion yuan in the same period last year. Based on this calculation, the two companies' combined maximum loss amounted to 6.78 billion yuan."
2 companies' (Ganfeng and Tianqi) combined maximum loss amounted to 6.78 billion yuan makes nearly US$1b.
That is BS.
I'm nearly sure the central Chinese gov subsides them both.
Otherwise why would Ganfeng increased its spod concentrate offtakes from PLS just recently on June 15 2024?
310kt per year for the next 3 years ..!
Even including this year, when spod is everywhere .
What are they going to do with that much spod concentrate if they can't sell their lithium products?
Total BS.
Anyway, the more interesting part is there is a disconnection with good and bad lithium. I mean high quality and low quality lithium indeed.
We talked about these issues years ago.
We always said "Not all lithium is equal"
That's why there is a offtake buyers que at the front gate of LTR's building. That's why two of three offtake buyers (Ford and LG) has given huge credits to LTR.
Now we will see the small one coming soon for our last piece of 100kt spod. It will be another good one IMO.
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