IGO 4.54% $5.07 igo limited

estimated earnings: from my spreadsheet

  1. 8,972 Posts.
    lightbulb Created with Sketch. 202
    Thought I'd post this from my spreadsheet showing expected earnings for IGO for 04/05.

    Profit may be slightly lower due to additional hedging taken out for which i havent updated the s/sheet yet.

    Some of the assumptions might be a tad optimistic...but IGO has a tendency to surprise to the upside.

    Cheers

    Cdchi1

    Production 2004/2005
    Tonnes mined 000t 220
    Ni head Grade % 4.50%
    In situ nickel t 9900
    Recovery % 93.00%
    Ni in cons t 9207
    Attirbutable Ni 64% 5892
    Revenues
    Hedged % 44% 2076
    Hedged price A$t 12174
    Nickel Rev (hedged)A$m 25.3
    Nonhedged t 3816
    Base price US$t 13300
    Base Price US$lb 6.03
    Exch Rate AUD/USD 0.75
    Base Price A$t 17733
    Nickel Rev (unhedged) 67.7
    Total Rev A$m 93.0
    Costs
    Total Cash A$/lb 3.3
    Total Cash Cost A$m 42.9
    Total Cash Cost A$t 7,283
    Operating Profit A$m 50.0
    D & A A$m 7
    Total Costs A$m 49.92
    Total Cost A$t 8471
    Total Cost US$t 6353
    Total Cost US$lb 2.88
    Exploration Writeoff A$m 4
    Earnings
    EBIT A$m 38.04
    Interest Paid A$m 0.2
    Pre-Tax profit A$m 37.84
    Tax paid A$m 11.35
    A/TAX Profit A$m 26.49
    EPS c 22.07
    No Shares m 120
    Shareprice c 120
    PER 5.44
 
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