Does anyone on HC bother to read the ann,s. Seems to me everyone posts their emotion based on nothing. I am no expert but a cashflow negitive $17 mil for 3 months is not good . The company is still in development mode and every one should be clearly aware of this . Revenue from current osborne operations is $44 mil for 260,000 ton ,mined for the quater . Ann tells us that they expect to mine 1,500,000 ton for the year ending from osbourne. Maybe i am missing something ?( i always do )simple maths shows that there will be further $220 mil cashflow generation from operations for the remainder of the year. Just applying constant current figures for year ending 2013 IVA should be generating cashflow of $260 mil with a operation cost $240. Surplus cash generation will be $20 mil. Ann is also saying that Merlin is better than expected a 10% improvment in yield . As ramp up continues copper and gold price is everthing . Have a look at YTC planning to copper gold producer at very early development stage , market cap $50 mil . YTC makes IVA look very very cheap .
IVA Price at posting:
14.0¢ Sentiment: None Disclosure: Held
