Ann: Yilgarn Hub Update, page-32

$200m is deferred until they achieve a 35mtpa run rate over a whole qtr and $100m is the tax/other costs associated with the sale.

also check out what cliffs had estimated as the rehab closure costs before min saved its bacon. $220m back in 2018. What would it be now?
https://thewest.com.au/business/min...rly-exit-from-koolyanobbing-ng-b88844808z.amp

there’s also a $200m payment it needs to make on July 1 as per a recent ann. Then the tenements purchased from bci..

Net debt was $3.5b as at 31 Dec but only $1.9b June 30 2023. Avg debt in this CY so far would be substantially greater than last year which means the interest costs of $167m for HY ending Dec 2023 would be dwarfed in this HY ending 30 June 2024.

then you have IO being 16% lower in Mar qtr than Dec qtr (according to min quarterly for March 2024). Pilbara and yilgarn made $34 and $26 ebitda per tonne respectively in HY Dec 23 (as per presentation). EBITDA would be marginal at best in this HY and there’s still an other 6 months at yilgarn to go irrespective of whether it is making a loss or not.

The underlying npat was $196m for Hy Dec 2023. Lithium is much worse off now than the avg price realised during the last HY

Even $196m for HY gives it a massive p/e at the current share price.

I can tell you what I think it’s worth. Let’s just say I believe it was in a stronger position when it launched the takeover offer of AGO.