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Japon

921 Posts.

221

15/09/16

12:18

Post #: 19173938
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Originally posted by Japon ↑

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

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With todays announcement on the restructure of the hedge book allowing FND to trouser $43M and earlier confirmation of the success of the ramp up to nameplate i would expect a substantial re-rating to take place
Hedging Notice
http://hotcopper.com.au/documentdow...KAxjvFDZpiwnmyXDzseh/8dtNT7rIG4EcWRdjPlHhlFA=
Ramp Up & exploration
http://hotcopper.com.au/documentdow...KAxjvFDZpiwf8i0qIjeh/8dtNT7rIG4EVVhZgPlHhlFA=
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0 Great analysis

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