OZL 5.27% $15.97 oz minerals limited

will we raise captal too

  1. 13,594 Posts.
    lightbulb Created with Sketch. 4
    just noticed MRE did a capital raising
    3 for 2 @ .30 underwritten by Glencore
    and the price was up 50% at one stage
    probably on takeover speculation
    the company hopes to raise $210m
    "The company will use the funds raised to repay short term funding, to fund committed capital expenditure and to provide the company with working capital to underpin operations for the next 18 to 24 months."
    It doesn't seem to have any debt.

    thought it might be worth comparing balance sheets

    MRE has about $66m in cash
    the cost of production is about $202m
    So they could have come $140m short

    could this happen to us

    we here at OZL have ....
    interesting bearing liabilities = $917m

    $392 m of that is short term debt

    costs of production = $670.8 m

    cash in the bank = $1,233.8 m

    financing costs/income = $34.1

    this might be a big call but it appears that the cash is producing enough income to cover debt and make money
    ... $34.1m

    we could probably pay off all the short term debt with the cash

    this would leave us with $842m in cash

    (we would still have $524m of long term debt and about $40m in interest which would be manageable)

    If we made nothing we could last about another year

    Perhaps copper and gold from sepon and golden grove could stretch that out for another year

    not sure if Prom Hill will cost us or make us money in the first year

    so from my estimate I don't think the company would need to raise capital for two years

    the most negative forecasters such as Roubini say this recession will go on for 2 years

    I therefore think will come out of this ok and OZL probably won't have to raise capital.

    what do you think horsetrader?




 
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