Was a good opportunity for the new MD to set the agenda, but alas through to the keeper. Instead more of the same wishy washy blue sky plans. Shipping date seems to be slipping and linked to Lucky Bay being online. Looks horribly like more delay and 3rd quarter at best based on history.
The reference to previous releases is no doubt their way of telling SH to DYOR, however as we know they inevitably contradict themselves on timing and have never stated an actual EBIT or Profit guidance to a financial year.
A bit surprised how low number of shares you need to be on the top 20 list and that they only cover 60% of total shares.
I'm guessing 85% conversion would be a good outcome, unless they come clean with better comms. That said, that will be enough to get things started and reduce dilution a little. Might be a good outcome too.
Anyway, I'm not 100% sure (today) that I want to add to my already overweight holdings (across IFE/TRF). I compare IFE to BCI and BCI still seems better value and hence more pull for my investment $$.
BCI 3MT/yr MC $300M Costs $40/T (6MT mined 50%JV) IFE 1MT/yr MC $76M Costs $85/T
Wish my crystal ball was clearer......
TYX Price at posting:
89.5¢ Sentiment: Hold Disclosure: Held
