So many wrongs in one post and so many clueless followers……...
1. CATL has no contract with A40.
2. A40 has the highest min price at $680 on the ASX, AJM $550p/t, not sure of others.
3. AJM CEO stated publicly offers for their spodumene are currently in low to mid $600 in the coming quarter and beyond
4. AJM spodumene is higher quality than GXY spod, unless GXY can negotiate better prices than AJM, GXY Q4 margin will be close to wiped out at those prices.
5. YOP badly needed to get GXY product up to spec, processors are now demanding higher spec product given GXY are no longer the only horse in town, this remains to be seen.
5. Brine projects without fail go way over budget (even from the major with all the brine experience) just like Sdv will under GXY direction, if it ever gets the green light.
6. There is a severe lack of direction in the company outside Mt Cattlin.
7. Only 15kt shipped so far this quarter instead of at least that being shipped per month based on production guidance, I haven't followed closely lately, what is the reason for this? See point 5.
Combine those GXY (which I'm a former holder) data points and add in an edgy global market place, uncertainty regarding lithium/spodumene demand and how long it will take processors to absorb the new supply now in the market and its been a very profitable short thesis for those who are shorting.
GXY will be the SYR of the lithium space if they green light SdV
No I dont want your "cheap" shares but thanks anyway.
GXY Price at posting:
$1.94 Sentiment: None Disclosure: Not Held
