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Why Allkem Limited's FY23 Full Year Results Deliver a Record Profit of $524.6 Million? — ASX:AKE| ASX Mining News & Discussion
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Lykeshares Official
$AKE Why Allkem Limited's FY23 Full Year Results Deliver a Record Profit of $524.6 Million?
Allkem Limited, an Australian mining and metals company, recently released its financial results for the year ended on June 30, 2023. The company's total annual group revenue reached an all-time high of $1,207.8 million, which is a 1.6x increase compared to the previous year’s sales. The excellent market conditions and the company's operational efficiency led to the generation of a gross profit of $1,065.8 million and a consolidated net profit of $524.6 million, indicating an increase in growth.

Operational Highlights

Allkem's Olaroz Lithium Facility recorded a production of 16,703 tonnes, a 30% increase YoY from the previous highest recorded production in FY22. Additionally, the facility's revenue surged by 102% to $592.2 million on the sales of 13,186 tonnes of lithium carbonate, including $12.3 million from by-product sales. The gross cash margin also remained strong at 89%. The sale of spodumene concentrate for Mt Cattlin produced 105,291 dmt, generating $513.7 million from sales ...
Why Allkem Limited's FY23 Full Year Results Deliver a Record Profit of $524.6 Million?

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Lykeshares Official
Berkshire is hoarding so. much. cash.
Berkshire is hoarding so. much. cash.
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Lykeshares Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.

There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can ...
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore. There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can rush, it’s a complex, slow-moving process that takes years of precision and experience. Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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Lykeshares Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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Lykeshares Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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Lykeshares Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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Lykeshares Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
🔺 Student Loan Delinquencies Hit Record 12.9%... The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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Lykeshares Official
$ASN Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?