Those figures (Sept quater)are for the group as a whole, so yes certainly many other costs relating to projects other than Renison there. But comparing Renison only figures from Sept cash flow vs Nov AGM presentation:
1485 t produced for Sept quarter vs 1875/quarter projected (7500tpa / 4 = 1875t) = approx 20% increase but projected 50% year on year ie 2011/12 vs 2012/13
$2824 margin vs $7000 margin projected. Based on the tin price then (Nov)of approx $20000, which has actually gone up from $18692 in Sept quarter to approx $23000 now. Generally yr 2011/12 vs 2012/13 projected production up 50% & op cost down 30% & the tin price has already increased approx 20% from the Sept quarter.
Yes there are development cost & this coming year I guess we have to find $100m once the dogs are let off & the first stage of gold mine development starts.
Anyway looks good to me. Valued at around 40c/share, no debt & $50-60m net income from Tin (op cost minus sales revenues)coming this year, $84m cash in the bank as of a couple of days ago.
A fool & his money are soon parted & if that is what I am then that is what will happen here. The only fish hook I can see is the usual shafting that retail investors get from the 'big boys' & a cheap take over would be the worst outcome here.
DYOR, which obviously you have & good luck
MLX Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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