DD , i still can't get my head around this , u start a thread stating " Fundametals Dribble ! " , and then trying to tell me that TA drove this too .275 today ,not the news WHILE THE MARKET WAS DOWN 1% !
Gezz , that to me is the biggest dribble i have heared since being a member on HC .
Hairy , your tune has changed , yes we know u sold thinking big red overseas like your buddies , see what happens , @ this stage all green !
U have also read the yearly report , big U turn from last year 300%+ stuff , a big turnaround from $30m loss and sh@t loads of news to come -
FINANCIAL HIGHLIGHTS
? Revenue of A$49.9m increased by A$37.0m on the previous corresponding period
? Gross profit of A$14.1m up from A$0.4m in the previous corresponding period.
? EBITDA of A$3.0m, a A$31.5m turnaround on previous EBITDA of (A$28.5m)
? Maiden net profit after tax reported, and a 100% improvement from a net loss after tax of (A$30.8m) in the previous corresponding period.
? Improved liquidity with debt funding secured from ABSA Capital.
? Cash as at 31 December 2011 of A$11.3m.
? Forward coal sales of 664,550t established at an average price of ZAR1,057/t, a +50% premium to the average 3 and 5 year historical export thermal coal prices OPERATING HIGHLIGHTS.
? Run-of-mine thermal coal production increased by 112% to 937,464t, with run-of-mine production from the Ferreira Coal Mine increased by 402%.
? Export thermal coal sales increased by 380% for the period to 309,445t.
? Domestic thermal coal sales increased by 235% for the period to 693,665t ? Development of the Company’s third mine, the Penumbra Coal Mine commenced
2
? Bankable Feasibility Study completed on the De Wittekrans Coal Project confirmed a technically and economically viable project.
? Maiden JORC compliant coal reserves of 43.8Mt defined at De Wittekrans Coal Project
? Acquisition of the Wolvenfontein Coal Project, with a JORC compliant inferred resources of 36.7Mt, completed.
? Diamond drilling program commenced on the Company’s three Botswana coal prospecting licenses with coal bearing carbonaceous zones intersected CORPORATE HIGHLIGHTS.
? Sishen Iron Ore Company Community Development Trust executed Subscription and Shareholder Agreements to become the Company’s new Broad Based Black Economic Empowerment partner in South Africa.
? The Company’s shares commenced trading on the London Stock Exchange..
? The Company completed a one for ten share consolidation of its issued capital.
? Approvals for the sale of the Company’s interest in VanMag received with settlement of the transaction outstanding at the end of the period.
? US$20m placement completed by the Company to part fund the acquisition of the minority interests in Mashala Resources.
? Committed financing offer of up to US$65m of bank debt funding from ABSA Capital secured and key conditions precedent satisfied for US$35m project tranche to complete the Penumbra Coal Mine development.
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