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Funny because I did and it doesn't say that. Maybe you should doublecheck before posting?
It actually says that cobalt prices have dropped which is currently making it uncommercial to process. It points out the reason being Chinese motor vehicle manufacturers switching en masse to non-cobalt based chemistry. This should be a concern to anyone who is factoring in cobalt being a major contributor to JLP's bottom line because it implies cobalt prices might struggle to rcover. However, maybe you should have represented the comment in the context it was made, "It was hoped to be a lucrative sideline."
They do not say that the Zambia operations are not profitable or that current copper sales aren't but that for the northern expansion to commence all we are waiting for is lab results. Something they are waiting for keenly.
Obviously they do but it's incremental.
I doubt this deal will add anything to the bottom line this year. I'm very sceptical but will be intesesting to see if they manage to make this statement true, "Improvement is expected in 2024 as the supply chain normalises and customer demand recovers.
The Group anticipates double digit revenue growth in H2 2023 versus H1 2023, and expects to be profitable at an adjusted EBITDA level for FY 2023. "
Good stuff. If we're going to put the last few years terrible results behind us we need more of these. Should see more immediate results from GaN power as well as opposed to further out markets like micro-led display.
As bad as the results are they are inline. There's no surprise. IQE has compelling technological advantages against it's competitors which still don't really exist beyond OEM attempts to build their own compound semi capabilities. If the demand's not there though we're not going to make money. There are promising signs but I think we'll all be disappointed until we see the kind of response they're anticpating for H2 and 2024.
Hmmm, according to Deloitte the top 10 global chip companies’ combined market cap is down 34% from US$2.9 trillion in November 2021 to US$1.9 trillion in November 2022. 2023 is a pause and reset year. IQE isn't even a semiconductor company. It relies on longer product development cycles and so any recovery in the tech sector takes longer to reflect anyway.
Horrible results in a horrible business cycle. Will be quite the turn around from here if they can be profitable by the end of the year. Will be a very optimistic sign the cycle has bottomed should it happen.
Section from an article in ArsTechnica today states that finally Seagate will start shipping HAMR drives next year with Western Digital following in 2025. Once touted as a potential large income stream for IQE but so far been a white elephant. Could be a chink of light at the end of the tunnel?
Group: 29,403 ounces ("oz"), up 92% from Q1
Net debt of US$8.7 million ("m"), down 54% from US$19.0 m in Q1;
Adjusted EBITDA3 of US$23.2 m, up 209% from US$7.5 m in Q1;
Better than expected Operating Costs and All in Sustaining Costs ("AISC")2:
NLGM: US$904 /oz and US$1,181 /oz
Singida: US$579 /oz and US$736 /oz
Tremendous numbers.
No, no, yes and supplemental yes. The 15 minute city is a town planning approach that aims to locate services close to people's homes. Supplemental, which is being hijacked by conspiracy theorists to push their bonkers claims.