Juke, just throwing some numbers around - albeit based on very old BFS data -
The numbers will need to be re-cast on the future P&L and B/S because of the time lapse from the BFS production.Looking back on my notes, for A Nth, based on a simple division of 25 (the BFS numbers were based on 25 years production), sale price per tonne was $35-$53 - using $52, COGS at $30, other expenses of $1.2m, giving an EBITDA of circa $45m. Interest cost will be around $2-4m (est), Dep'n - $2m, leaving about $40m. Then After tax profit of $28m.
$28m available for dividends - usually 40% of profit is distributed. This would be circa 2c per share (based on 550m shares). To me, that would be the best scenario possible
I suspect that there won't be any dividends paid for at least 3-5 years as the cash generated will need to be sunk back into the business for capex at Muchea, A central etc.. The cream will be when Muchae comes on stream and that is anyone's guess.
So IMHO, I doubt that anyone will see any dividends until Muchae is on line and firing. There simply won't be the cash available to set up multiple plants based on cost blowouts. I think the BFS used $12.5m for capex per site - that has now more than trippled.
I'd be interested to see anyone's views on this as I'm happy for the numbers to be attacked.
DYOR
- Forums
- ASX - By Stock
- Ann: Quarterly Activities/Appendix 5B Cash Flow Report
Juke, just throwing some numbers around - albeit based on very...
-
-
- There are more pages in this discussion • 35 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add VRX (ASX) to my watchlist
|
|||||
Last
2.7¢ |
Change
-0.001(3.57%) |
Mkt cap ! $16.96M |
Open | High | Low | Value | Volume |
2.8¢ | 2.8¢ | 2.6¢ | $3.342K | 119.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 329103 | 2.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.7¢ | 146160 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 329103 | 0.026 |
1 | 25000 | 0.025 |
2 | 148000 | 0.024 |
2 | 85451 | 0.022 |
4 | 319998 | 0.020 |
Price($) | Vol. | No. |
---|---|---|
0.027 | 146160 | 1 |
0.028 | 499841 | 2 |
0.030 | 23809 | 1 |
0.031 | 240832 | 3 |
0.032 | 409896 | 3 |
Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
Featured News
VRX (ASX) Chart |