ikwezi mining on the road to coal production, page-12

But the enterprise value is now Aus$13m instead of Aus$5m, which makes a big difference to whether the company is worth investing in. An ingenious re-write for marketing purposes.

I see the directors suddenly had shares worth more than Aus$30m on floatation. Nice money if you can get it so easily.

With sky high debt to equity will Newcastle (the phase 1 part) be a company maker? I have my doubts.

I suppose the all important thing is will they have enough funding with the debt facility to get to production without a dilutive share issue. I have my doubts. And also once they get into production, a -ve NPAT will make the gearing worse.

Am I missing something? Thanks in advance.