Shares declined 2.9% as investors appeared unconvinced by the cautious tone on growth initiatives despite operational improvements, with no clear catalyst to offset concerns around future volume ramp-up and margin sustainability.
- Mt Weld expansion is nearly complete with minor pending work on tailings storage facilities; operations described as reliable.
- Kalgoorlie facility fixed previous product quality issues, improving feedstock consistency and reaching 100% non-China sourcing for products and spares.
- Kuantan plant delivered best cracking and leaching performance, testing new capacity and improving energy efficiency.
- Signed a strategic 12-year supply agreement with JARE, reinforcing customer partnership amid prior market challenges.
- Heavy rare earth separation development at LAMP remains on track, with key product milestones scheduled through fiscal 2028.
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