Member Info for Basscadet

New news is never announced in results HappyDays43. The chrome deal isn't off the table, "setting a target annualised chrome concentrate production rate of 2 million tonnes (60% expansion) over the next two years."

That's exactly the same guidance we already had and is dependent on the extra 600k tonnes being delivered. It'll get it's own RNA when it's ready.

On track against production guidance for full year '24.

I'm sure the Q1 figures will be in line with the forecast ones published yesterday. Would be odd to diverge so soon barring the effect of the Roan upgrade.

Nothing to turn round. Just keep on going. The company is making money in a hostile market at the bottom of the cycle; it's able to find cost effective options for growth by pivoting to higher priced metals (pause Eastern Limb, focus on chrome and continue to build copper); and weathered some one off costs in the form of infrastructure upgrades for resilience. Even if metal prices don't increase production will be significantly up and costs down in 2024.

Global manufatcuring is in a huge downturn especially in China. Demand isn't there Happydays.

I thought last update was that we were awaiting approvals? Whenever a government is involved I double and double again the expected timescales.

Continued Zambia troubles?

Just have to go with this statement jammin, "Operating costs and AISC were better than budget due to more ounces produced and lower than budgeted Open Pit mining and Processing costs. Management are continuing to monitor actuals versus life of mine forecasts to assess the long run steady state cost structures."

Sticking to forecsast but monitoring following lower than expected all in costs in H1.

Isn't it just because it's results up to the 30th of June and so is just the same numbers from the operational update on the 20th of July? We're not actually expecting new numbers until the next set of results.

The section on Jubilee is very short. Very easy to understand.

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.

Where does Slater make that comment please Bushy?

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.

This actually seems like good progress.

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.

How is the market booming? It's absolutely cratering outside AI hype.

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.

Again, not really.