Thank you - Forum like this needs people like you. you have made it clear for once you might like AR1 .
We think your Dec Cals are off by 50% (but will accept your thoughts) HY23 absolutely will be a loss - Company only started making money in December.
Company debt in our opinion will be circa ($30m - excluding Thiess which is payables and Glencore was a prepay). We don't disagree with you on your view to pay attention to Balance Sheet. However when you are investing in mining it is typical for the first 12-18 months of ramp up to be sketchy!
What we like about AR1 is their current position is manageable (copper will be hot for a long time) and the asset alone (replacement value +400m in todays dollar) warrant a better share market value. No other Cathode Oxide SXEW infrastructure in Queensland (that is worth something @LD99)
We did explain Forward PE. so if you extrapolate and assume your assumption $1.5m x 12 (earnings). AR1 is 6x PE (now if you look at $3m a month - am sure AR1 is close to that then it is 3x (why we say it is cheap)
So please let keep the debate balance and clear (if you are right ill give up my copper handbag - if we are you finally buy some AR1)
DYOR
AR1 Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)