I've heard similar possibilities PF. PLS has always been conservative with its figures.
The Stage1 2Mt might well prove to be conservative once fully operational. It may well be possible that they can achieve 2.5Mt+ after tweaking operation processes.
My take on their DSO reported in the quarterly.
PLS received $US5.3M (shown as $A6.9M in quarterly cashflow) during quarter plus booked $US4M owing on jun 30 but received later.
$US 9.3M/ 145,974t reported sold = $US65.6/t (from item 6.1 in quarterly)
That's US$ so $A87.5/t, $8.75M/ month at the 100Mt planned monthly output less $A2.52M/m costs per next quarter estimates.
$6.23M profit/m or $A75M/a. presuming they deliver the same grade and the contract is fixed
Very nice when you consider this is not the main game.
The Cash Cow is about to be milked!
Shorters to be skinned!
Credit Suisse have included a 15% discount on their $1.15 target on the basis of commissioning risk( i.e $1.35 derisked) . Once PLS prove the 6.0+ product in the commissioning process there should be a huge re-rate. It appears their lab is operating now from today's Instagram.
Some other very conservative assumptions from CS so only the beginning.
I've heard similar possibilities PF. PLS has always been...
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