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$3.71 pilbara minerals limited

3 million is for first 6 invoices. if one invoice per month...

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simon_liu88

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30/07/18

22:33

Post #: 34634236
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Originally posted by MrGriffin ↑

ok my bad, had a long day.
After re-reading it, its more like ~$45 per ton gross as far as i can tell.
So we sold 146kt, $3m as prepayment, $5.3m gross plus $4 as receivables for the DSO.
if we break this down:
$3m prepayment for 1.5m t = $2 per ton. ( I expect this to decrease as we keep supplying Atlas, ignoring interests as theres no mention of it anywhere.
that leaves 2.3m + 4m = 6.3m for 145,974 tons of DSO = $43.15 +$2 a ton from pre payments = $45.16 per ton.

If Atlas processing costs ~$20 a ton (per ann) and shipping costs = $10 per ton
= 45.16 + 20 + 10 = A$75.16 per ton. this seems a lot lower than the MIN published figures of 100-120 a ton. on average thats $25 short ...... the only explanation I have is Atlas has a $20 margin and $25 cost per ton. But that would be crazy margins just for crushing rocks surely.

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3 million is for first 6 invoices. if one invoice per month thats 0.5m, since we have receiveable. we guess there are two invoices, there for 2m pending for reduction. 5.3+4-2=7.3m 7.3/145974 =50 per ton. my guess. ato margin is in their report, cant remember 20somthing million for 1.5m ton. should adds up nicely.

PLS Price at posting: 90.5¢ Sentiment: None Disclosure: Held
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