Hi All,
Just a comment before I start. MIN has 187 million shares on issue and a MC of approx 4 billion. SP approx $22.oo
AGO MC approx 300 million 9.5 billion shares on issue SP 3 cents.
I understand the difference but look below.
Business Fundamentals:
Just reading through MIN Yearly Report: (4 billion market cap)
Total Export Commodities 13 million tonnes
Iron ore: appox 12.5 million tonnes (lump and fines)
Lithium DSO: 720 thousand tonnes
Magnese: 116 thousand tonnes
Spodumene: 146 thousand tonnes
Total FY revenue 1.5 billion, Return on Revenue 14 %
Net Debt / Cash 104 million
AGO Comparison: (was a 4 billion market CAP)
Iron ore: appox 10 million tonnes + Corunna Downs (lump and fines)
Lithium DSO: 1 million tonnes tonnes
Mulitple future DSO and Diversified Supply contracts coming.
Future Revenue with minimal capital cost forecast.
Tenament Value vs MIN.
Net debt free
FY profit 48 million
Summary:
Ok Grades of metals aside Cliffy has a good business model to follow based on diversification.
This is is something AGO should look at and follow for sure. And all kidding aside this is a conversation worth having among AGO investors.
Plus
@asx_dude and
@rcman future upside comments and points.
I think this is AGO's benchmark moving forward.
