I know, was being conservative there, too. I was looking at 2H Net profit (more relevant gold price), which was cca. $154 million, but there was also some $20 million in net foreign exchange gain effect in 2H24, which is probably a on time effect. That means (154-20)*2 = $268 million annualised of NPAT. And if we assume average gold price in 2H24 was $ 3850 / ounce and now it is $ 4600 / ounce and we calculate 200k ounces * (4.600 - 3-850) (1-0,4; let's say this is an approximate effect of taxes and royalties) = $ 90 million, that means some $ 360 million in annualised NPAT. I hope I did not screw something up too much in this quick calculation.
WAF Price at posting:
$1.89 Sentiment: Hold Disclosure: Held
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