Our (ERA) current favourites are : Territory : Yes we accept that it lost heaps ~$50m or more last year investing in Monarch etc. But at Diggers it was selling its lump at ~A$110/t, fines at A$90/t, say A$100/t on a 50/50 basis. Costs are A$70/t falling to A$60/t (and targeted to go lower), say a margin of A$35/t, which at 2mtpa = $70m less tax = ~$50m NPAT less exploration etc = $40m cashflow (and revenues may be US$/t and not A$/t, so the figures could be higher).
TTY Price at posting:
51.0¢ Sentiment: Buy Disclosure: Held
