my call is $7.70 today, page-2

You may have shot yourself in the foot.

Whilst numbers are down, the forward look seems to be on the up apart from Europe.

Iluka has seen evidence of a strengthening in demand for zircon during the first quarter in its main markets, with the exception of Europe. A stronger level of customer inquiries and orders relative to preceding quarters is being experienced and, in Iluka’s view, market trends provide confirmation of commentary in February (associated with the full year results) that significant production reductions and an improvement in business confidence levels in key markets, could be expected to provide a basis for a period of price stability. This, in turn, should facilitate more usual demand patterns over time.
Of Iluka’s markets, China has shown the most marked improvement; with a re-emergence of demand in the housing and commercial sector and a recovery in refractory and foundry demand. Zirconia demand is strong and while zirconium chemical (zirconium oxychloride) demand is improving, it remains subdued relative to previous periods of market recovery. South East Asian markets are also showing early signs of improved demand.
The North American market for zircon has stabilised but Europe continues to remain the weakest market for zircon globally.

My view only.