My brief take.
$2.8 million loss is a pretty good result (sounds strange I know) but considering INL have spent over $5million with R & D work on the MRP for the fy. BSM was always going to hurt us considering their share price being smashed over the last few months, but INL are in it for the high grade ore processing which will be worth millions in revenues. So if you research the other producers out there like PEM, CBH, OZL etc who have produced absolute shockers, INL looks ok to me.
Earnings will double in the 2008-09 fy, AUD will settle down around 80c so I'd expect a reasonable profit. Still the main game is the MRP and what significant news INL can deliver on this company making project.
There is no doubt the current Zinc / Lead operations is doing much better then the competition and that's a major positive.
Regards
financial year 30.06.08
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