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1,201 Posts.
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03/04/07
19:12
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due to close down of ops due to tragedy production of ZINC is now 100,000 tonnes:
Zinc 100,000 tonnes * 2200 (to convert tonnes to pounds) * 1.45 (USD) * 1.25 (for conversion to AUD based on 0.80US:AUD) = 398.75 million revenue
production of LEAD is 60,000 tonnes:
60,000 * 2200 * 1.45 * 1.25 = 239.25 million revenue.
total reveue = 638 million
use a Net profit margin after tax of 35%
638 * 0.35 = 223.3 mill NPAT
200 million shares plus options
So EPS:
223.3/200= 1.116
take off 25% for hedging: 1.116 * 0.75 = 83.7 cents per share
PE 5 : $4.20/share
PE 6 : $5.02/per share
Next yr, production from BELTANA to add 17.7-20cps to this 83.7 cps figure
Lets use a net profit margin of 30%:
638 total revenue * 0.3 = $191.4 million
191.4/200 = 0.957 pre hedged
hedged using 25% off : 0.957 * 0.75 = 0.7178 cents per share
* this is using Zinc $1.45; USD 0.80; Net profit margin after tax of 30%; taking 25% off for hedging
So in a CONSERVATIVE sense theyll make appr what the analysts have forecast on commsec!
So much for 50cps EPS, huh.
All ppl have to do is sit down for a minute and run simple figures!
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