small-town divide, page-22

The salt slag business is making a profit?

I definately must have failed maths , or its different in australia .

As far as I can see its MHM is a long way off making a profit .

The annual results should be out by now but , true to form I suppose they will be out as late as allowable , and then we will see in my opinion a significant LOSS from the public company .

I suppose if you dont count the cost of administration , the capital cost of establishing the plants ,executive slaries , the operating cost of running the public company ,etc etc you could say you make a profit

I had a friend once who used to tell me he made a profit of $2.50 on every flake he sold in his fish shop for $3

He just forgot to add back the expenses he needed to pay to sell the fish .

MHM is a supposedly a 3 or 4 business unit business and the cost of operations are shared against income of these

The MHM income from Silican business is NIL
The MHM income from Tasmanian mining assets is NIl
The MHM income from US business is nil
MHM income from Geelong less than expenses

And

The income generated from the aluminium business at geelong is insufficient to cover the companies overall expenses .



When MHM sell off the mining assets in to another vehicle it will raise capital , and when USA comes on board as long as the income share is capable of covering expenses and capital repayments then the Geelong specific expenses may show the $8.6m PROFIT that is forever discussed

Until then MHM has not yet delivered on ots promises , and at this point in time is definately not profitable no matter where you did your schooling




sin .