the net cash is 404m-263m loan= only $143m at 31/3/13 also the development earmarked for the first two quarters was $150m,not the $76m you have allowed.
their net cash will be maybe $120m or possibly even less after this Qtr and that is why they also have the undrawn $80m facility to cover any shortfalls in cash flow.
So not anywhere near as rosey as your chart indicates.
However good on you for charting the company as you see it going forward,always a rewarding exercise.The figures you have ended up with also need to include the $2 interest per ton on the drawn loan the 8% royalty($10),$11 shipping(likely to rise quickly in a heated market) and $7/ton admin charge.
adding it up roughly $52+$2+$11+$10+$7=== $82+/ton
plus of course the need for development of infrastructure at $76m/Qtr
not far off the $90/ton projected pricing by some analysts,hence the share price fall based on their lower grade ore deliveries and their current attempts to reduce costs and sweat their assets for early cash flow,
regards
Fitnfam always DYOR+DYODD
AGO Price at posting:
86.0¢ Sentiment: None Disclosure: Not Held
