Hope2008,
Conti claim that Ferreira should be generating "Annual free cashflow of US$15m on current prices" according to their company website. Currently they are generating an annualised EBITDA of $1.8M for the mine. Even with last year's high coal prices, this annualised EBITDA figure was no more than $4M, a far cry from $15M.
Should we trust them when they say that Penumbra will generate free cash flow of $20M+?
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