Ann: Results of 2024 AGM, page-43

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Mencel_as_anything

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13/12/24

12:09

Post #: 77034557
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Originally posted by ManyWerri: ↑

Can you guys show me the announcement that says the CMC for logistics is $500,000/month?

Assuming it is $500,000/month, the minimum volume for this take or pay agreement is 325kt/year - this equates to $18.46/t which seems way too cheap for trucking to Isa, railing to Townsville, stevedore services and all the transferring in between.

To get a cost for the whole logistics service, I took the $20.43M quoted in the annual report, subtracted the CMC of $4.147M and used 250kt for the tonnage. That comes to $65.13/t. For such low tonnages and a broad scope, that sounds about right.

To try and allay some of @Mastatrada's frustration, the contract is for road haulage, rail, port and stevedore services (including loading and unloading at transfer points (someone please correct me if I have this wrong). It is about 150km to Isa, so they might do 5 trips a day with a triple road train which is limited to about 100t payload on outback QLD roads. You could perhaps move the minimum contract tonnage of 325kt/yr with two trucks, but you would have a third on hand to ensure availability. So, 2 drivers a shift plus a fitter/supervisor on day shift is about $2.2M in labour per year; add accommodation and flights and you get to $2.5M. There is nearly half your annual cost in labour for one segment of the logistics chain. Now consider that you would probably run more drivers and consists to have sprint capacity. Then, there is the ramp up [to 625kt].

Before any of the peanuts in the gallery blow a gasket: I am not saying Centrex hasn't missed deadlines and I am not saying this is a dead certain buy.

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Fact based comments aren't allowed here. Just agenda driven ones!

CXM Price at posting: 2.0¢ Sentiment: Hold Disclosure: Not Held
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Ann: Results of 2024 AGM, page-43

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Ann: Results of 2024 AGM, page-43

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