Magontec Limited announced that It is now expected that remediation work at the Qinghai electrolytic magnesium smelter complex, including a program of upgrade to electrolysis cells to co-produce chlorine gas, will culminate in a restart of production towards the end of 2023. Qinghai Huixin Asset Management Co Ltd. (QHAM) - the owner of Qinghai Salt Lake Magnesium Co Ltd. (QSLM) - believed that this restart would be possible in the 2022 calendar year. However, based on its latest review of operations, QHAM has advised Magontec that technical issues have emerged in the electrolysis process that are anticipated to take another 12 months to resolve.
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5-day change | 1st Jan Change | ||
0.27 AUD | -10.00% | -15.62% | -30.77% |
02-28 | Magontec Limited Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
02-28 | Magontec Limited Announces Final Dividend for the Period Ended December 31, 2023 | CI |
EPS Revisions
Annual profits - Rate of surprise
1st Jan change | Capi. | |
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-30.77% | 14.28M | |
+39.26% | 92.67B | |
+23.87% | 75.75B | |
-.--% | 28.28B | |
+52.90% | 10.26B | |
+16.63% | 9.52B | |
+20.47% | 8.94B | |
+5.82% | 7.89B | |
+30.27% | 6.12B | |
+23.28% | 5.19B |
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- Magontec Limited Announces an Update on the Recommencement of Supply of Pure Magnesium to the Company's Qinghai Magnesium Alloy Cast House