Ann: Iluka 2018 Half Year Report (4D), page-16

Thanks, didnt yet finished reading the report, WOW that is a huge increase in zircon prices for q4 2018 ! this should result in record profits for H2 2018. I changed my sentiment to "buy" instead of "hold".

The only reason I can see why the stock price isnt doing that well despite nice profits/margins and improving prices, is that markets value future growth potential, the market is worried that production figures for Iluka are stagnating/reducing, maybe it is timee for another takeover/acquisition...

on another note, that is the challenge with mineral sands companies : most deposits have short lives (5 years - 10 yeears) and could be rapidly depleted if the company decides to icrease production throughput, hence mineral sands companies are always on the run trying to find new deposits which is a risky business.