I read the Chairman's report, and concluded that the project economics will not work on a number of fronts. He mentioned a 14% ROI, with copper at $3.00, and the AUD at 70c.
Copper is currently around $2.60, so we are still 20% below the required rate.
The AUD conversion rate is against us, by another 5%
Finally, 14% ROI would fail most corporate hurdle rates of return - most companies are looking for investment payback in 3 - 5 years, whereas 14% is around a seven year payback.
I think I'm out of here for the moment, will keep an eye on them in the future.
Ann: Chairman's Address to Shareholders, page-2
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Last
44.0¢ |
Change
0.010(2.33%) |
Mkt cap ! $337.8M | |||
| Open | High | Low | Value | Volume |
| 43.5¢ | 44.0¢ | 41.5¢ | $10.27M | 23.91M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 56092 | 43.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.0¢ | 2581231 | 49 |
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| RXM (ASX) Chart |