The >50% increase in the 44%Mn price confirms the market is worried about the supply situation over the period where the GEMCO Groote Eylandt project is out of action. While E25 doesn't produce a 44% grade, offtake partners decided this was the most appropriate benchmark, presumably due to the associated impurity mix. E25 will receive a discount to this rate and shipping costs will also need to be deducted.
The point just above+25% is confirmed from OM Holdings website as US$6.06 so this fastmarkets price increase will take the price to around US$6.94 (+/- a few cents). With an AUD/USD exchange rate of 0.66 the price before grade adjustments, contract adjustments and shipping costs is now around A$10.50/dmtu. This is the price range where its clear that E25's existing operation should be profitable in a restart scenario.
With a >50% change in pricing its about time for E25 to provide an update on their thinking.
The >50% increase in the 44%Mn price confirms the market is...
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Last
27.0¢ |
Change
-0.005(1.82%) |
Mkt cap ! $58.73M | |||
| Open | High | Low | Value | Volume |
| 27.0¢ | 27.5¢ | 27.0¢ | $46.02K | 170.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 171640 | 27.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.5¢ | 37500 | 2 |
View Market Depth
| Last trade - 14.17pm 31/05/2024 (20 minute delay) ? |
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Last
27.0¢ |
Change
-0.005 ( 1.82 %) |
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| Open | High | Low | Volume | ||
| 26.5¢ | 27.0¢ | 26.5¢ | 15199 | ||
| Last updated 11.47am 31/05/2024 ? | |||||
| E25 (ASX) Chart |