Hi du, I do not think that the writer formed the opinion. My understanding of the article is that the writer pulls together the dates and comments and expresses what the analysts are saying.
If I had to have a guess on what is driving the number, I would go a bit like this
C1 mine profit = $301m (from my qtly report posted) minus $110m (royalties + other indirect costs) = $191m minus $81m for depn = $110m minus $33m for tax = $77m (this may be a book keeping entry and should be credited in the cash flow.
Due to the current mine life to 2018 - the depn is high cause it needs to run out when the current mine life does. An extension of the mine life (Malu u/g) for instance will drop the depn number in the future.
HT1
OZL Price at posting:
$7.92 Sentiment: Hold Disclosure: Held
