Winter,
ABY's disclosure in their quarterly reports is abysmal and always has been. The half-year results presentation, however, had red flags all over it; ignore all the graps of recruitment and turnover, etc etc, and focus on the combined cash cost for H12009 of A$/lb of $2/50 or, roughly US$1.62 @ 1 AUD$ = US$65c.
The cash margin - if everything else is held the same - is a meagre 3c/lb and they are making 80M pounds per annum, you you're making a pissy $24M per annum.
ABY has very small debt, but the key problem they have is that at the end of H1 2009 they had $3M in cash. This isn't enought to carry on - so they'll be using their loan facility to generate some cash buffer to stop insolvency on account of cash flow pinching...
...its not good, if copper drops to US$1.54 again, or even to US$1.40...
does anyone think aby will go under?, page-5
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Last
83.5¢ |
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-0.015(1.76%) |
Mkt cap ! $78.45M | |||
| Open | High | Low | Value | Volume |
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| 1 | 22455 | 83.0¢ |
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| ABY (ASX) Chart |