Stardestroyer. Interesting to also note for H2 18 average price was 5.5 for 1.2bln ZAR NPAT. They still expect costs to improve further and the current spot manganese price is 7.3, so 30% higher. You can do the math, but it’s very cheap. EV is 700mln at 40c. Forward P/E on spot price is actually more like 2.
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