looks like the whole sector is down on the lower spod pricea lot...

looks like the whole sector is down on the lower spod price



a lot of the price falls on specific stocks has to do with whether or not the market thinks a company will survive I'd say.
eg MIN is probably down 7% because the market thinks it won't be able to repay it's $4.5bn in debt
where as we only down 2.6% because we have only $500m of debt and a $1bn undrawn debt facility (which is probably bit like pre-approval from the bank on a residential property. you don't pay interest till you draw on it.)
and also I think even at US$ 738 we may still be profitable
My estimate for breakeven for PLS based on the last quarterly report is $667
*cost of sales(CIF) = 235,800 x A$733 = A$173m
*sustaining cap ex etc = A$63m
Total costs A$236m
convert A$ to US$ divide by 1.5
US$157m
breakeven = US$667
($157,333,333 / 235800 = US$667)