This is a really great report

Upgraded production guidance for basically everything: iron ore, lithium and mining services. Realized pricing strong, particularly for lithium

Debt reduced by $400 million (although around $100m was forex-related)

Costs kept under control, despite cyclones and increased diesel prices

Looking really positive for the rest of the year. Still undervalued IMO

Questions I have:

1. Why are they so cautious with restarting Bald Hill? The lithium price is easily high enough to warrant it. And EV demand just received a massive boost from oil prices.

2. Is there any way to back out of the POSCO deal? Better to keep the lithium assets now surely

[I sold out a while ago on SM, but still hold a decent chunk IRL]

I guess the market had high expectations (SP down 3% today)

Pretty solid result:

Iron ore production up, costs down

Lithium production up, costs stable, Prices up

Mining services ticking along nicely

Debt down

I'm definitely continuing to hold

This is VERY good news

Min have sold a 30% stake in their lithium assets. The price is MUCH higher than what the implied market valuation has been.

Plus the cash generated will reduce debt and therefore risk

A kind of "double-whammy"