I'm not sure I really get their figures.
The half yearly report showed that FEX's profit from the JV was $2.1m on 677k tonnes ore hauled. At 100% ownership that means they made profit of $4.2m, which is only around $6.16 / FOB tonne (at 100%), so the incremental gain for FEX is only around $3.08, nowhere near the $10 stated.
The multiple of the transaction doesn't look too bad.
Using the 6 month run rate shown in the half yearlies, thats profit of $4.2m, annualised is $8.4m over a transaction cost at a 100% basis of $69m, is a P/E multiple of 8.3 so its not too bad but I'm not sure where their calculation of $10 / FOB saving comes from. That would suggest that their profit is a lot higher than was shown in the half yearly statement.
I'm not sure I really get their figures. The half yearly report...
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Last
31.5¢ |
Change
0.005(1.61%) |
Mkt cap ! $218.8M | |||
| Open | High | Low | Value | Volume |
| 31.0¢ | 31.5¢ | 31.0¢ | $151.6K | 487.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5800 | 31.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.5¢ | 723370 | 18 |
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| Last trade - 15.57pm 16/05/2024 (20 minute delay) ? |
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Last
31.3¢ |
Change
0.005 ( 2.46 %) |
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| Open | High | Low | Volume | ||
| 31.0¢ | 31.3¢ | 31.0¢ | 196503 | ||
| Last updated 15.30pm 16/05/2024 ? | |||||
| FEX (ASX) Chart |