I have just been looking back through the Annual Report and in particular at the financials on the vanadium development. My comments are made only on the figures given and I am NOT and accountant.
Total revenue expected is $11.8 bil (usually rounded to $12 bil which is ok)
Pre-projection capital is $563 mil (I presume this needs to be raised somehow before we can start - it includes all infrastructure). How do we raise the capital?
Net annual cash flow estimate is $294 mil (sounds good) Internal rate of return calculated at 31.8% pa (very good) Assumes US$ = Au$ (looks ok for the time being)
When will they start talking about the actioning of this development. It will take quite some time after they start talking about it.
TNG Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
