check these figures

Having experienced a nasty period over BMO and BCD, and having watched INL shares drop, thought some calculations in order.

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Stated forecast revenue of $128 m per annum; EBITDA $70.5 m; 550 m shares; -> 13c/share return (minus ITDA).

Is this a reasonable estimate?

Based on 65,000 tpa Zn concentrate;
41% Zn @ $3000/t -> $90 m
10% PB @ $1650/t -> $11 m
200g/t Ag -> $ 9 m
Total $110 m; not too far off. Worst case 10c/share return?

Are they producing this well?

Expect 5000 tpm concentrate (+); 65000 tpa forecast; OK - fits above figures.

How's the cash?

$545,000 on hand; loan facility $4.5 m; looks OK.

Cash flow?

Forecast positive from now on; reasonable with 90% payment for first shipment due in 10 days time; about $ 9 m??

Blue sky?

Zeehan resource, Burnie to restart, Bass metals shares - all OK.

Long term?

Over 7 years life for HZCP based on reserves; should be able to find other sources in that time; OK.

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Still a bit uneasy about the share price (INL now 25$ of my portfolio) but can sleep a bit better.
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