My take on how the ore presales would work
Or
My guess on this year and pre-payments
Version 2..
Rizhao port group
Prepaid $23M for 1MT
1MT/ 43,000T = 23 shipments. @ $1M per shipment
$1M/ say 43000t per shipment equals roughly $23 per tonne prepaid
Depending on grade/ ore price, there is still a lot more to be paid on those 23 shipments
At $130.00 a tonne that makes an additional $105M extra to be paid on those 23 shipments
These are most likely lower grade to start off with so will not command a premium
HSC
Prepaid $17.2M for 4 shipments.
17.2/ 4 = 4.3M
$4.3M / say 43000t per shipment equals roughly $100 per tonne prepaid
Depending on grade/ ore price, there is still a lot more profit to be paid on those 4 shipments
At $150.00 a tonne that makes an additional $8.6M extra to be paid on those 4 shipments
I would suggest that HSC want the cream, the 68% cream, hence the $150.00 a tonne.
Those 27 shipments could be completed by the end of Feb/ early March.
I have not tried to guess royalties, pre-payment discount, JV changes or freight. I have also just used Australian dollars.
Unknown Hong Kong entity, they may be Nice
Debt funding $24M. To be used for ??
Plv would need cash for the stage 4 seawall, Cockatoo drilling, Irvine enviro, Irvine DFS, ongoing infrastructure development, contingencies etc.
To be repaid ???
As you can see, it would seem that Cockatoo is robust financially. They may even make a profit this year [Insert sarcasm emoticon here]
Total CapEx and OpEx costs will not be known until the financials are released.
Lets hope that I got it right this time...
Cheers ..
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