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Kram said:
Hope didn't snatch at the falling cxo knife.

I still hold a fair chunk of ltr, probably just hang on don't need the cash.
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I watched it with amusement but didn't touch it, the capex required lithium to stay near ATHs just to break even.

I've been off-loading a little recently. Sovereign risk spike after the US election. Still slowly growing via SRP in a dozen or so holdings, but a net seller overall.
Watching a few OS ETFs in the event the US dollar drops sharply and prices in AUD become attractive.
 
burge13 said:
Also proves how pointless boards and non exec directors are. Get paid 50k + for a few meetings a year but do absolutely zero for the company

This blokes an arrogant ****wit but he won't see any accountability. The asx is no less scummy than crypto tbh
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It's strange that if you're not listed on the ASX, Board of Directors tend to have more accountability. A lot of financial delegation stuff is Board level but listed companies often just pay for name recognition and prestige.
 

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Mofra said:
It's strange that if you're not listed on the ASX, Board of Directors tend to have more accountability. A lot of financial delegation stuff is Board level but listed companies often just pay for name recognition and prestige.
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I believe that Boards are often too big, though I see their value assuming they're staffed appropriately. Quite often, their main function should be to apply breaks, to ask "why" questions of management, and to ensure that alternative decisions have been fleshed out. The single biggest threat to organizations, in my opinion, is unchecked CEOs; there are, of course, exceptions to this.

For a board to consistently apply breaks, you need people who've been there before, ex CFO/CEO/COO, which I understand does not make for avenues to make boards more diverse, which I agree with.
 
Kram said:
I've been mostly just sitting out of this rally.

I really find it hard to find any buys that suit me apart from resources, oil and bhp.
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I've remained invested during the rally, but I haven't been increasing any positions above and beyond my auto-deposits/buys. I'm particularly nervous about next year; there feels like a number of foreign risks that are coming to a head.
 
juss said:
I'm going to be trading out of all my individual stocks, and just keeping my ETFs

I'm just backing the long term likelihood of growth
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Also have trimmed down my holdings in my individual stocks too - save from a few speccies.

The one that's hard to sell is PME which has been a 10x for me.
 

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I'm still in a selling phase for my speccies and getting rid of my instalment warrants.

Still watching ARR as a LT buy from a national security perspective given how important on-Chinese REEs are going to be in coming years.
 
Mofra said:
I'm still in a selling phase for my speccies and getting rid of my instalment warrants.

Still watching ARR as a LT buy from a national security perspective given how important on-Chinese REEs are going to be in coming years.
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Have you finally thrown in the towel on lithium?

I'm looking for more signs we are near a bottom ;)
 
Kram said:
Have you finally thrown in the towel on lithium?

I'm looking for more signs we are near a bottom ;)
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I'm not calling a bottom yet.
Looking at more REE exposure with a rush to secure non-Chinese supply lines.

I think we're in for a rocky year though so been a net seller for a few months now.
 
Liontown Resources beats expectations amid lithium rout

Elouise FowlerReporter
Jan 21, 2025 – 7.18pm


Liontown Resources earned around $US20 for every tonne of lithium mined at its West Australian project in the December quarter, defying a sharp slump in global lithium prices by staying in the black.

WA’s hard rock lithium producers have struggled through a bear market for the battery mineral, driven by weaker-than-expected sales of electric vehicles in 2024 and strong supply from new mines.

Liontown’s Kathleen Valley project, north-east of Perth, started producing lithium-rich spodumene concentrate in July, and to survive the downturn it slashed production and its expansion plans in November. The price rout forced the closure of other mines high up on the cost curve, including Arcadium Lithium’s Mt Cattlin and Core Lithium’s Finniss project.

76d9a1a3d51d310969944e3328eff666464844fe

Liontown’s Kathleen Valley mine. AFR

Spodumene concentrate, containing 6 per cent lithium, has fallen from more than $US8000 ($12,242) a tonne to less than $US800 over the past two years, according to data from S&P Global.

Liontown, backed by iron ore billionaire Gina Rinehart, sold its ore for an average price of $US806 a tonne in the three months to December 31, down from $US846 a tonne in the prior quarter it said on Tuesday.


This dip meant Liontown operated on around a $US20 a tonne margin between the price fetched and the cost of producing the commodity over the last quarter, which was Liontown’s first full quarter in production.

The miner reported a cost of digging – which includes charges like state royalties, and federal taxes – was $US763 a tonne over the same period.

Management later revealed the cost was higher when freight was added to the mix. This was reported after Glyn Lawcock, leading mining analyst at investment bank Barrenjoey, queried the figure on the company’s earnings call.

In response, Grant Donald, Liontown’s chief commercial officer, disclosed the miner’s freight costs were between $US19 to $US30 a tonne, depending on the size of the vessel.

“So you really should be comparing [the cost of production] of $US782 to $US793 per tonne with the $US806 price,” said Mr Lawcock on the Tuesday teleconference. “Yeah, that’s fair,” Mr Donald said.

Liontown reported $16.7 million of operating net cash flow in the quarter, the first positive period when turnover exceeded outgoings. This, plus stronger than expected production and shipping data, pushed the miner’s shares 11 per cent higher to 70¢.

“[It’s] tracking well to deliver on its guidance this financial year,” Mr Lawcock told investors in a note.

Liontown’s spodumene concentrate containing 5.2 per cent lithium – which is slightly below benchmark grade – totalled 88.7 kilodry metric tonnes (kdmt). That was 14 per cent higher than expectations set by Barrenjoey, and 30 per cent higher than consensus. Mr Lawcock said this was due to the ramp up of Kathleen Valley proceeding faster than projected.

Shipments of 81.3 kdmt were also 30 per cent higher than analysts predicted.

While the stock surged on Tuesday, it is well below the $3 a share that Mrs Rinehart paid for a 19 per cent stake in the company between September and October last year. Its market capitalisation of $1.66 billion is also a far cry from the $6.6 billion valuation that Albemarle put on Liontown when it bid for the company last year before walking away.

The price of spodumene concentrate fetched $US865 per tonne, according to S&P Global, on Monday.
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www.afr.com

Liontown Resources beats expectations amid lithium rout

Lithium miners have struggled through a bear market for the battery mineral, driven by weaker-than-expected sales of EVs and strong supply from new mines.
www.afr.com www.afr.com
 
Kram said:
www.afr.com

Liontown Resources beats expectations amid lithium rout

Lithium miners have struggled through a bear market for the battery mineral, driven by weaker-than-expected sales of EVs and strong supply from new mines.
www.afr.com www.afr.com
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Still in the top-10 list for most shorted stocks in Australia.

www.fool.com.au

These are the 10 most shorted ASX shares

Liontown Resources Ltd (ASX: LTR) and Pilbara Minerals Ltd (ASX: PLS) shares are among the most shorted shares on the ASX this week...
www.fool.com.au www.fool.com.au

BOE a watch for potential short-squeeze? "Buy on rumour, sell on fact" = the opposite can be true
 

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