Even though it's been disappointing, I personally see the announcement as positive as it shows management adapting to the changing market.
The offtake agreement was always going to move to a market based pricing mechanism in 2020 so this has effectively been brought forward 11 months (with our Jan shipment having locked in $880/t).
The new agreement also has a range higher than some competitors between $680/t-$1080/t.
We also have $12.1m more in the kitty until Jan 2021 thanks to delaying the offtake repayments.
The last 5 weeks of production was impressive at approximately 14150wmt @ 6.2% (or 13842dmt). That extra 0.2% will definitely boost our selling price, even a small amount.
The upcoming Dec quarterly should reveal the Tantalum revenue which is a critical part of our cash flow. The team need to ensure these sales continue.
SGX:40F is 23.5c so we're trading at a discount here on ASX.
Even though it's been disappointing, I personally see the...
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