FY21 below expectation but can't fault management for being prudent. How many miners are now citing 'labour shortages' as reasons for reduced production and increased costs. No doubt the exploration drilling guys are throwing the cash around to attract drillers given the current levels of activity and demand.
Might have cost the company in the short-term but at least we won't have a rig(s) sitting idle due to lack of operators.
Also noting the NTA of 0.064 v. the share price of 0.09. Market is only valuing the operations at ~8m over the value of the assets, for a business that is expecting 10m EBITDA. Even if it fails to hit this and only makes $8-9m, still huge upside.
Thats before you consider the carry forward tax losses that should offset the next 1-2 years of tax on profit.
A lot to like here.
Ann: FY21 Results Commentary, page-4
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Last
31.5¢ |
Change
-0.005(1.56%) |
Mkt cap ! $128.7M | |||
| Open | High | Low | Value | Volume |
| 31.5¢ | 31.5¢ | 30.0¢ | $60.89K | 196.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1 | 31.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 31.5¢ | 5250 | 1 |
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| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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31.0¢ |
Change
-0.005 ( 3.13 %) |
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| Open | High | Low | Volume | ||
| 31.5¢ | 32.0¢ | 30.0¢ | 179951 | ||
| Last updated 15.44pm 24/05/2024 ? | |||||
| VYS (ASX) Chart |