worth a punt perhaps...as charlies posts, forward looking profitability tasty ....and MS buying is comforting
2013 & 2014
Broker consensus headline figures: 2013: Revenue £220m, Pre-Tax Profit £17m, at current sp gives P/E 9 2014: Revenue £280m, Pre-Tax Profit £60m, P/E 2.6 These are using production forecasts which are likely to be exceeded. 2014 production now likely to be over 5Mwmt. 2014 H1 has 1.1M hedged at $119, current ore price is looking bullish. Could easily see 2014 revenue of nearer £375m. Do the sums!
started production at the Marampa mine in December 2011, doubled production and export volumes in the first six months of 2013. Is expanding production capacity to 5.4Mwmt/a over the course of 2013 and expect to reach production capacity of 6.5Mwmt/a in 2014. Marampa has a mineral resource of over 1 billion tonnes of iron ore including a Probable ore reserve of 539Mt grading 31.1% Fe, sufficient for over 40 years of mine life.
140.00 a month ago, great level to get in at!
RE: morgan stanley
Hereandnow, welcome back! Very reassuring to see MS doubling their holding, they obviously see the value at these levels.
are trading the hell out of this stock. they sold a few percent in the summer…now they have bought a load back. i have bought back in today after exiting a couple of years ago. looks very cheap considering their excellent productivity record and their low costs
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