Very vague unsatisfactory RNS2 Aug 2018 20:02
No mentions of how much money it cost RGM/LH to take over Omega holdings?
The Legacy hill website says "Legacy Hill Resources is a private mining company majority owned by its employees. We have a track record in turning around troubled assets that suffer from either poor operational or financial management decisions"
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So i suppose we can assume (because of what LH specialise in taking over bombed out companies) that Omega holdings was loss making? You would've thought RGM would've told shareholders of this?
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Lastly on the Mining equity trust website they say "Omega sold 749,000 tons of coal, generating revenues of $34m. Omega employs approximately 70 employees with strong mining experience, competencies and customer insights".
So if REVENUES only = COAL SALES (and nothing else. so doesn't take into account other various company costs), then 749,000 of SOLD TONS x $45 (for each ton of coal) would according to my calculator, comes to around $34 million in revenue.
So if Omaha holdings only received $45 for each sold ton, then all of the other costs had to be taken out of that $45, then imo pretty a big chance Omaha holdings weren't making a profit. So with no doubt already previous locked in off take agreements how do RGM/LH possibly now make a profit? .
No need to respond anybody. Many of you are probably going out tonight to celebrate.