*Profit from operating activities was $56.4m
Profit higher than I expected (up from $45m in my books), in a very tough environment. IMO we are tracking well for a record Q1. Current NdPr is (currently) hovering around US$43-44, with 500t/m NdPr production and favourable mix we are looking at revenue around $120m/Q (or $480m for the year). In my spread sheet it equals FY20 ~$150-200m profit, or sp $6.45-8.60 (@P/E 30, calculated with 700m shares).
*The new Nd and Pr separation circuit was successfully commissioned as part of Lynas NEXT... The first production of Nd oxide was delivered in December 2018 with the first Pr oxide produced in February 2019'
Complicates things in estimates, but all for the better.
*Cash balance $89.7m
What's not to be excited about? (assuming no more regulatory issues)
Ann: FY19 Financial Results Announcement, page-25
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