Regal, GXY had a margin of US$288 in the Dec quarter when they were selling at US$960. With spodumene concentrate prices of around US$700 in quarter 1 and maybe US$650 in the current quarter they are certainly "marginal" unless they can substantially reduce cost. Which I hope they can!
And I would love you to try and explain how and why ""the GXY short positions cannot be closed, they must continue to sell in order to remain solvent." With GXY at 18 month lows the shorters have made heaps and if they wanted to close their positions they would simply buy them back and make a whopping profit.
GXY Price at posting:
$1.94 Sentiment: None Disclosure: Held
