Australia's largest stock trading and investment forum Australia's #1 stock forum

GXY

0.00%

$5.28 galaxy resources limited

Ann: FY 2017 Results Presentation, page-75

First 75 Last

Share
Profile

Follow
Hevlet

168 Posts.

153

23/03/18

15:26

Post #: 31984027
Share

Originally posted by Hevlet ↑

I think people are missing some of the relevant information in these results (either naively or doing so deliberately due to certain vested interests).

Personally of interest is anything that shows how the most recent activities are going.

In a start phase of a mining operation there is always going to costs or finance charges or other matters that cloud the waters and what we really want to know as investors is whats happening now on the ground...

For me the take away figure has been:

The receivable and prepayment figure of $17,748,000 which is noted as 'predominantly related to December shipments'

&

EBITDA Margin of 32% on Mt Cattlin operating performances.

Lets for a moment annualise the Month of December 2017 figures and we have (obviously an estimate) of

- $17,748,000 x 12 = $212,976,000 mil x 32% current EBITDA Margin of 32% = $68,152 Annualised EBITDA based on December 17 performance.

Current market cap is (ballpark) $1,376,000,000 / $68,152,000 = approx 20 times the current annualised (and my therefore forcasted) EBITDA from Mount Cattlin.

There is still blue sky upside from offtakes etc for Sal de Vida or James Bay or simply an increase in the margins / metal prices etc.

And don't forget DEBT FREE.

A lot of the other stuff is all accounting.

Keep a focus on the business - not the accounting adjustments like amortisation (which is a paper cost only!) from the General Mining acquisition or tax effect from losses etc. Yes there will be adjustments and there will be problems and costs but its all the normal course of the game.

All IMHO of course - DIY Research etc.

Expand

And my figures for Dec 17 are only based on the 'uncollected' December 17 shipments in the receivables figure taken from page 9 of the presentation. (I don't actually know the payments terms - I haven't check for that yet - would any shipments for December already be paid for by 31 Dec 17?).

GXY Price at posting: $3.27 Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

PH2

Pure Hydrogen inks MOU for 5 hydrogen buses in Saigon – days after Twiggy's FFI reeled back in

Biden's exit bakes in a Kamala Harris ballot while markets expect Trump to win. How could equities fare this week?

29M

High-grade copper results provide some relief to 29Metals after earlier mine shutdown

HBF to throw 10% vote behind NDC BidCo's buyout of Pacific Smiles Group

I88

Large fault structure and uranium anomalies picked up by Infini at Newfoundland play

There are more pages in this discussion • 105 more messages in this thread...

First 75 Last

Add GXY (ASX) to my watchlist

Ann: FY 2017 Results Presentation, page-75

Top Stories

Pure Hydrogen inks MOU for 5 hydrogen buses in Saigon – days after Twiggy's FFI reeled back in

Biden's exit bakes in a Kamala Harris ballot while markets expect Trump to win. How could equities fare this week?

High-grade copper results provide some relief to 29Metals after earlier mine shutdown

HBF to throw 10% vote behind NDC BidCo's buyout of Pacific Smiles Group

Large fault structure and uranium anomalies picked up by Infini at Newfoundland play

Featured News