Mogga, where do you get $50m from? I'm a little more...

Mogga, where do you get $50m from? I'm a little more conservative in my thinking. I know the potential is to dump 1 million tonnes a year but I based my figures on 400 000 tonnes. That works out to be approx. 40 trucks carrying 40 tonnes a day for 250 days a year. I'm not sure it would be logistically possible to make more truck movements each day but... If we get $90 a tonne that would give us revenue of $36m. I have no idea how much opex would need to be spent each year but I don't think it would much - so I allow $6m. Tax of around $10m would leave about $20m NPAT. I know in the end these figures will not be right but I prefer to think way conservative then overly optimistic. If we dump more tonnes or get more dollars per tonne then the figures are even better. If it is only 400 000 tonnes a year then it would extend the life of the project to around 15 years so it's still not a negative and a P/E multiple would become more relevant then as well.

That would still give us EPS of around 6c and a div of maybe 3-4c But even if it was a div of 2c that's still a yield of more than 25% for many holders. I haven't added in the other operations but provided they don't run at a loss then they'll just make the bottom line fatter.

One of the reasons I really like this story is its simplicity. At its most basic it's just filling in a hole with dirt, and its an environmentally sound operation. I've invested in companies before with great tech but the greens didn't back them and they just get strangled in the end. This time I feel like I might actually have them on my side.

I'm not worried about the churn; too many people think the market is a get rich quick scheme and I think at the moment we're just seeing the same traders jump in and out and moving the price around. Time will tell.

Cheers
GLB