Came across an article in The Press, the Christchurch, NZ daily...

Came across an article in The Press, the Christchurch, NZ daily paper for Saturday (April 4)

Apparently PRC has been having a bit of a roadshow round various cities in NZ putting forward a presentation about the company to support its current Rights issue.

Some interesting details in the article.

One concerns the cost of the rock fall. That is to cost about $ 7 million to repair. That may be partly recouped by a possible insurance claim of $3 million.

It has certainly set back production by 3 months at least.

However the company hopes to have produced about 750,000 tonnes by June 30th 2010. It should be in full production by the last quarter of this year.

Chairman John Dow indicated that he expects that PRC will be in a position to pay a divvy next year ....probably in the second half of 2010

Broker consensus forecasts have PRC earning $50 million (earnings before interest and tax) next year.
PRC has adopted a dividend policy of paying half the available cash after interest and tax.