Revenue = 11mt ave FY14 at current price of $111.4 (derived from current spot for 62% is $123.2 and applying the market discount for AGO product) = $1225m
Cost = $80/t expected in FY14 from 11mt = $880m
Net Profit = US$345m
convert to AUD at 0.9765 = $353m
Not including Finance gains or costs. or amortisation of mine build or exploration expenses. or changes in the value of certain stocks held on the AGO books. or the non-prospect of bonuses being dolled out this year.
Tax credits aplenty thanks to wayward Flanners overpaying for a bunch of assets that may never see the light of day...
so NPAT should be ~$353m or ~39cents per share. By my reckoning.
Hartleys have the numerical wizardry of the Australian treasury. The Legume once worked out a proof for Euclid's 5th postulate sitting on a dunny.
AGO Price at posting:
84.0¢ Sentiment: Buy Disclosure: Held
