Short Term Trading Week Starting: 5th Sept, page-523

  1. 921 Posts.
    lightbulb Created with Sketch. 221
    STTCOMP FND, FA Long
    Finders has a copper project on an Indonesian Island of Wetar that recently started producing its first copper from its newly commissioned plant in June.
    Today announced hitting 87% of nameplate and expect to complete September at nameplate; 28,000 pa.
    They have hedging in place and that is well and truly in the money.
    The subsidiary company BTR forward sold 40,700 tonnes of copper at US$5,940 per tonne with today's price of $US4,622 dollar i am sure they can monetize this with the agreement of the lenders.
    The $US53 Million would make dent in their loans
    At full production Wetar has an AISC of A high proportion of ownership would appear to be in sticky hands
    The top 20 shareholders held 74% as at the publication of 2015 Annual Report
    http://findersresources.com/finders/company-profile/
    Wetar is now nearly up and running
    Current Share price 17.5cents,

    Market Cap $117Million
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.