RE: CEO Interview26 Apr 2024 14:58
This is not a very active bulletin board! Good to have some input.
I think that a few clarifications may help the sp. My numbers are subject to correction of course.I do get confused easily.
Mandiri has apparently 6MT inferred Zircon on rolling five year extraction licenses. - can we get from inferred to proven?
Tisma has 4.5MT inferred Zircon on a 10 year license - ditto. I suspect that this license too might revert to a five year rolling permission when the current permission expires? This would surely affect the potential Valuation of the business assets.
Current output permits total 24Ktpa ZIRCON ,20Ktpa Rutile and 50Ktpa Ilmenite.
At 24Ktpa max production capacity at 2000USD/tonne Basket sales could increase to potentially 48M USD? Net Profit of how much? I recall the Chairman stating that the next milestone is 18Ktpa? Is that his forecast for FY24 perhaps?
Separation Plant Capacity is now 24,000tpa total Zircon from 3 lines. How much is assigned to Rutile and Ilmenite? If they are by products what output could they have in addition to the 24Ktpa Zircon? Another 3Ktpa or more? Is the split 94% Ilmenite/6% Rutile?
Last FY sales were 22.7M USD at an average price of say 2,000USD/tonne. The loss was 10.5M USD which included one off charges of 7.6M for share based payments, a Fair Value Loss of 1.7M USD and 2.5M USD Capex and increased OPEX of 1.9M USD.
Looks like this active producer could gear up the revenues considerably in future and become acceptably profitable as soon as even this year end? Hopefully the quarterly reports will soon start to show us the direction and speed of travel.It looks like it has good potential , and as a bonus the workforce will be mainly indigenous, with both male and female participation.