Ann: 3Q 2016 Operations Review-MDL.AX, page-7

Hi Peppie,

Have a look at Morgan's Interview with Nick Limb in July if you haven't seen it, a google search will locate it.

The JV can't possible support the $650m investment at current prices with sales close to cash cost at about $160m a year.

Nick points out that current prices are about 30% of what they used to be.

I guess an investment in MDL is all about the possibility of prices rising and the pot of gold at the end if they do.

Nick Limb alluded to EBITDA in the range of $150m to $200m in the next couple of years.
That would easily be achieved if current prices doubled.

That's certainly possible. How probable ????

Prices only need a moderate increase to support the debt and current market cap and one would have to think there is a very strong possibility of that.

Does anyone have access to historical and forecast prices ?

cheers