1 day ago - Mining entrepreneur's private company lifts annual profit by 28 per cent. ... Wednesday, 31 October 2018 7:16PM ... Gina Rinehart’s sprawling iron ore and cattle interests have delivered her private company Hancock Prospecting a 28 per cent surge in annual profit to a massive $1.37 billion.
The company’s annual report lodged with the Australian Securities and Investments Commission late yesterday revealed Hancock had posted annual revenue of slightly more than $6 billion, up 36 per cent on the previous year....
Yes Gina is smiling,
Revenues up from $4.5B to $6B
Profits up massively to A$1.37B
Roy hill profits up strongly from $331M to $558M
"The company also revealed for the first time that its acquisition of Atlas Iron would be used to complement and extend the minelife of its Roy Hill operations. It also disclosed the total cost of acquiring Atlas, once the compulsory acquisition process was complete, was expected to be $418 million".
Yes Gina sees value in AGO alright, all 29c per share of it at Roy Hill margins.
She needs a listed entity and AGO needs to stay a junior miner apparently for the State port berth rights.
We have been told crap on here for years, and here we are, in the company of the richest person in Australia.
Gina has the right to change her mind, Again!
We have the right to hold long and HOLD STRONG!
AGO Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
