Until there is some meaningful increase in the 6% spodumene price, the SP has no reason to rebound. Its significantly cask flow negative on a look forward basis once you factor in freight, royalties and sustaining capital.
Yilgara will be bleeding cash and they still have another 2m IO to churn out. Pilbara hub will now be cash flow negative once freight, royalties, moisture, discount and sustaining cap are considered.
With the massive debt load, IO prepayment and rehabilitation liabilities, there is not one reason for this to rebound at all. The lithium and IO outlook is dire. I used the REITs during the GFC as an example for what can happen here and if anything the situation in MIN’s case is more dire.
MIN chart, page-332
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Last
$36.95 |
Change
-1.520(3.95%) |
Mkt cap ! $7.261B | |||
| Open | High | Low | Value | Volume |
| $37.45 | $37.77 | $36.95 | $66.20M | 1.773M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 34350 | $36.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.16 | 2000 | 1 |
View Market Depth
| Last trade - 16.10pm 11/11/2024 (20 minute delay) ? |
| MIN (ASX) Chart |