MIN

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$52.79 mineral resources limited

MIN chart, page-83

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scrabble1

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25/06/24

10:41

Post #: 74474448
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Originally posted by scrabble1 ↑

I don’t have much idea when it comes to charts but from a fundamental perspective I said last week on here that MIN was in a stronger position when it launched a takeover offer for AGO and explained why.

Nearly all of their debt is in USD and the AUD has weakened 200 basis points since Dec 31. The AUD value of their USD debt has increased $150m to about $4.6b using rate of 0.664. The interest cost alone will be close to $200m for this HY, well up on last HY. This doesn’t take into account the additional debt and interest costs it will have taken on in this HY due to cap commitments, sustaining investments and potential ebitda losses on some projects.

there will be considerable rehabilitation costs for yilgRn. There will be a provision and potential write down of assets. Ironically this IO projects has fetched about USD 5 more on avg than their other IO project over the last few quarters. Yes costs are higher for yilgarn but not substantially. Utah’s margins would be well down on the last HY.

then there will be write down on other assets it holds such as delta lithium ltd. This was valued at $77m as at Dec 31. Lithium is well down in this HY and the decline has accelerated over the last month

Onslow is still a while away from achieving anywhere near max run rate output. Until then the costs will be amortised over a lower amount of shipments. Its net debt was substantial as at 31 Dec with a payback of many years.

The $1.3b sale value has yet to be finalised and will not be done until 2nd half of yr assuming finalisation of project conditions are met. It entered into new $750m USD facility on 5 June as a result. $200m will be deferred in any case untik prod target met and $100m chewed up in taxes. Then there’s more money they paid for bci assets and an other $200m instalment they are paying on 1 July for Onslow. P/E ratio currently is insane also

Its fin position whej it tried to take over ago was substantially better than now.

Expand

another thing why did they have to enter into another USD 750m facility this month? Didn’t they have a 400m undrawn facility at the beginning of the year which they said in the hy report was sufficient. Did they max that out already?

MIN Price at posting: $55.43 Sentiment: None Disclosure: Not Held
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(20min delay)
Last $52.79		Change -1.030(1.91%)		Mkt cap ! $10.37B

Open	High	Low	Value	Volume
$52.45	$52.85	$51.94	$44.83M	854.2K

Buyers (Bids)

No.	Vol.	Price($)
2	397	$52.72

Sellers (Offers)

Price($)	Vol.	No.
$52.85	50	1

View Market Depth

No.	Vol.	Price($)
1	18	52.720
1	100	52.580
1	400	52.500
1	200	52.400
3	580	52.300

Price($)	Vol.	No.
52.880	500	1
53.440	1000	1
53.570	186	1
53.820	20	1
53.880	562	1

Last trade - 16.10pm 02/08/2024 (20 minute delay)

MIN (ASX) Chart

MIN chart, page-83

Westgold sets its sights on top five producer status through merger with Karora

Cost blow-out for Rook I uranium project sees share plummet for NexGen

GreenX picks up prospective copper project in Germany

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Is oil undervalued?

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Venture to sniff out high-grade REE targets at Jupiter project, WA

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

MIN chart, page-83

Top Stories

Westgold sets its sights on top five producer status through merger with Karora

Cost blow-out for Rook I uranium project sees share plummet for NexGen

GreenX picks up prospective copper project in Germany

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Is oil undervalued?

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Venture to sniff out high-grade REE targets at Jupiter project, WA

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News