Sunday , January 29 2023

SKM destroys more than US $ 1.650 million in equity from entering Tianqui


On December 3, the largest operation in the history of Santiago Stock Exchange was completed: Chinese Tianki awarded the shares that the Canadian company Nutrien had in SKM, equivalent to 24% of non-metallic mining assets in excess of US $ 4,000 million.

Since the closing of the transaction classified as a business of the year, the works of the company associated with businessman Julio Ponce Lerou accumulate a loss of more than 11%. The collapse turns into a loss of $ 1,650 million in capitalization of the stock market.

So far, SKM has grown 2% on the Santiago Stock Exchange on Friday, with a market cap reaching $ 10.417 million.

And while commenting on the market, there are two reasons for explaining the turbulence that hit the SKM. In the first place, there is an extensive discussion of what will be the price of lithium.

Stock Market Offering Nutrien to Reduce Tax to Pay Sales of 24% PKM

"The market mistakenly sees the wrong price, and this is because lithium is sold with the technical specifications given by every customer. Considering that lithium is a good commodity is not correct ", explains the expert.

As a matter of fact, the biggest blow suffered by the SKM since Tianki's entry into the property occurred yesterday. Canadian company Orocobre estimated a 13% fall in value of minerals during the fourth quarter and said it did not expect recovery in the short term.

In particular, the manufacturer's report states that the price of lithium carbonate in the quarter will be $ 10,800 per tonne, compared with an average of $ 12,470 per ton from January to June.

SKM erased $ 645 million on the stock exchange after a reduction in the price of mineral material

This warning meant that the non-metallic mining company lost $ 650 million on the stock exchange after collapse of more than 6% in the B series titles.

Another factor that explains the decline that SKM has accumulated over the past three weeks corresponds to the delay in the new paper company's paper plant. However, the analyst says that the problem has been solved.

"They set up a new extension line within the existing and in the synchronization process, they found this delay. This has already been resolved," the operator said.

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