From old announcements, the Whyalla plant is expected to contribute about $30m in revenues over the initial two year contract with Zinifex and will make "a material contribution to earnings in the 07/08 financial year".
I suspect, given the timing, it will now be a material contribution in 08/09 rather than 07/08 - I'm working on $2.2m contribution to NPAT. And of course the agreement is not now with Zinifex but with their inheritor whose name temporarily eludes me.
Also, from a recent article, there are other potential process streams for the plant and plans for expansion.
AM2 could well be bumpy and seemed to be higher than expected in first half. So not sure now how second half will rate, but should still be a good year. Hope to see more sales which would help! Smelter work should be okay, but could dry up as access to capital becomes more expensive.
Bit of a turtle with progress tending to be slower than expected, but heading in the right direction.
AET Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
