So, what does everyone think the second half of FY13 will yield?
My thoughts: First half, loss of $61m, including large one off and non-cash items of $47.6m impairment and $6m gain on acquisition, other one off cash costs of $2.2m stamp duty, $1.7m intermediary fees resulting in underlying trading loss of approx. NPAT $15.5m.
Second half profit or loss based on 8 - 9 shipments of ore for the half (my estimate only)?
My ballpark for the half only, $40m revenue, gross profit of $12m-$13m with an EBITDA of $7m-$5m, NPAT $4m-$3m.
FY13 trading loss of NPAT ~$12m, full year loss (including impairments and one off items) of $57m-$59m.
There is no chance of a write back of the $47.6m inpairment until at least 31 Dec 13, since the drilling program hasnt commenced to expand the resource.
Cashflow will be a different story however, i think they will be hurting until July, when the $19m bond is returned.
PLV Price at posting:
5.7¢ Sentiment: Hold Disclosure: Held
