I bet on FML becoz......
Status: Producer
JORC Reserve: 1.8moz gold
Producing Cost/oz: 537 aud, this may improve due to recent lower energy cost.
Management: Very capable mgmt, which has always achieved more than it has promised.
Cashflow:
It will be unhedged & cash flow positive by june 09 by repaying its debt from gold production. All future exploration will be funded by gold production hence no need to go to market/bank to raise cash,This is a very good sign especially in current environment.
Production targets:
Gold production is targeted to deliver approximately 65,000 ounces in FY2009, ~75,000 ounces in FY2010 and then ramping up to a sustainable level of 100,000 ounces per annum from FY2011 onwards from projects currently within the development pipeline.
Earning potential
-----------------
By FY 2009::
Assuming GOLD is at 1000 aUD(averaged at lower price them market due to part hedging at 960/1060)
cash cost/oz 540$
Profit/oz = 1000 - 540 = 460
Total Profit: 65K * 460 = 29.9M
EPS: 29.9M/1300M(Shares issued) = 0.023 aud
By FY 2010::
Assuming GOLD is at 1150 aUD
cash cost/oz 540$
Profit/oz = 1150 - 540 = 610
Total Profit: 75K * 610 = 45.75M
EPS: 45.75M/1300M = 0.035 aud
By FY 2011::
Assuming GOLD is at 1150 aUD
cash cost/oz 540$
Profit/oz = 1150 - 540 = 610
Total Profit: 100K * 610 = 61M
EPS: 45.75M/1300M = 0.047 aud
SP at PE of 3x, 5x, 10x, 15x? depends on gold price and future market condition.
Upside:
Tremendous exploration potential, They might be sitting on a Superpit :)
Plus it also has Nickel.
Please DYOR.
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Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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5 | 198192 | 0.125 |
2 | 11625 | 0.120 |
1 | 1000 | 0.110 |
1 | 50000 | 0.056 |
1 | 70000 | 0.055 |
Price($) | Vol. | No. |
---|---|---|
0.140 | 67030 | 2 |
0.145 | 4928 | 1 |
0.150 | 454554 | 3 |
0.155 | 6500 | 1 |
0.160 | 111109 | 3 |
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