If the price of spodumene concentrate does fall to $US475/t as per Blue Ocean's report for Altura, then our profit would "önly" be $A280M per annum assuming we are at 4Mt/a by then and have no conversion plant.
I don't know about everyone else but how does a profit of $280M relate back to a SP of 54c and a MC of only $632M.
In a world of lowering or negative interest rates, and most things stagnating, except for the 31% CAGR for EVs (from MacQuarie no less!!) then at some point we are in for a serious rerate.
We have plenty of cash for a huge deposit on a 2Mt/a plant, we have BOA's to go that MIN might match so we have to RAISE our output to keep up with all the demand.
WE are highly likely to do some type of deal that is mutually beneficial for us and MIN, but that will just push our cashflow and profit higher.
Where is the downside? I just cant see it. Maybe it is because it just does not exist. I bought a few more thousand shares today taking my tally to a nice round number.
If you have not jumped on the sub 60c bandwagon yet, why not? I would really like to know, because I just cannot see any downside from here.
I expect the pullback from the next high to be 75c or thereabouts, but the next revaluation couldd go to anywhere. I'm talking real valuation, not some paper one.
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Price($) | Vol. | No. |
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