HDN 0.39% $1.28 homeco daily needs reit

Maiden profit and 1st dividend

  1. 343 Posts.
    Haddington International Resources, I company I follow has just announced its maiden profit and first dividend. A great effort for a company just over eighteen months old.
    They produce Tantalum from their single mining operation with prospects of growing the business through further discoveries. Also the plant has been redesigned to add a further 50% throughput, which will add to the future earnings by more than the 50% due to economies of scale.

    The earnings per share is 2c of which 1c will be paid as a dividend. The closing share price yesterday was 20.5c giving it a PER of 10.25.

    The stock has been largely ignored by investors however the proof positive of the operations and business plan as released yesterday should awaken interest.

    Their website is http://www.haddington.com.au if you want further info.

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