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da noch kein thread für Minara vorhanden ist, möchte ich mal einen eröffnen. Nickel ist in den letzten Monaten stark gefallen, so dass Minarra einen desaströen Einbruch seit Mai erlebt. Von 6 auf 1 AUD in knapp 3 Monaten. Allerdings bin ich der meinung, dass bei Minara aktuell der Boden gefunden sein könnte. Kernstück des Unternehmens ist die Murrin Murrin Mine mit 30 -35000 to Nickel und ca 2000 to Kobalt im Jahr bei Cash Kosten von 5,24US$/lb Nickel. HALF YEARLY RESULTS 30 June 2008 ABOUT MINARA Minara Resources Limited is a leading Australian resources company based in Perth, Western Australia. Minara Resources owns and operates the Murrin Murrin nickel cobalt joint venture project (60% Minara, 40% Glencore International AG). The Murrin Murrin operation is located near Leonora in Western Australia\'s historic northern goldfields region. Murrin Murrin is a world-class nickel/cobalt hydrometallurgical project which offers significant environmental benefits compared to traditional smelting processes. ASX CODE: MRE MINARA RESOURCES HALF YEAR REPORT – ENDED 30 JUNE 2008 2 / 4 FINANCIAL The company recorded a net profit after tax for the half year to 30 June 2008 of $50.9 million (2007: $245.9 million). The company recorded a gross profit of $82.3 million for the six months to 30 June 2008. At 30 June 2008, cash on hand totalled $66.0 million. The company remained debt free with a strong balance sheet. Minara has experienced a range of cost pressures including escalating prices of inputs such as sulphur and gas, a decline in the nickel price and a very strong Australian dollar. As a result, the Board has taken a conservative financial management approach and has not declared a dividend for the period. FINANCIAL RESULTS ($ MILLION) C1 costs of US$5.24/lb (2007: US$4.93/lb) were recorded for the six months ended 30 June 2008. These costs have been impacted by the increase in the cost of sulphur which has risen sharply during the period. Minara has long term sulphur supply contracts in place. As previously reported, the company anticipates that the sulphur market will return to a normal price cycle in the second half of 2009. In response to cost pressures, the company has undertaken a review of all discretionary expenditure and capital programs and the timing thereof. Over the next twelve months the company will embark on a period of consolidation with a focus on optimising and maximising efficiency on a stable production platform. 6 Months Ended 30 June 2008 6 Months Ended 30 June 2007 Revenue from operations 284.5 529.9 Gross profit 82.3 354.8 Net profit 50.9 245.9 Net cash flow (90.4) 131.9 SIGNIFICANT EVENTS Gross profit of $82.3 million and a profit after tax of $49.2 million Stable production achieved despite impact of gas shortages Cost pressures have led to deferral of the heap leach expansion project Cash on hand at 30 June 2008 of $66.0 million Ongoing nickel market volatility PRODUCTION Production at Murrin Murrin for the six months to 30 June 2008 was 15,022 tonnes of nickel packaged and 999 tonnes of cobalt packaged. The company’s share is 60%. The previous corresponding six month period saw 14,889 tonnes of nickel packaged and 1,062 tonnes of cobalt packaged. Nickel production during the period was affected by the significant constraints experienced as a result of the disrupted gas supply from Apache Energy\'s Varanus facility. The Murrin Murrin plant was non-operational for five days and operated at half to two thirds capacity for the remainder of the month of June. Full production resumed in early July and production guidance of 31,000 to 35,000 remains unchanged. MURRIN MURRIN PRODUCTION 6 Months Ended 30 June 2008 6 Months Ended 30 June 2007 Nickel Production (Tonnes) 15,022 14,889 Cobalt Production (Tonnes) 999 1,062 Minara’s share is 60% CAPITAL PROGRAM During the period the company continued to invest in a range of capital projects. This included on-going expenditure on the heap leach project. The company has reviewed the timing of the expansion of the heap leach project. As a result of the current cost pressures, major capital project expenditure directly related to the heap leach expansion has been deferred. The company will continue to pursue further optimisation in the heap leach circuit and the existing heap leach operation continues to perform at its design capacity. METAL MARKET The nickel market volatility continues. Despite this, we believe that the market has a sound foundation for at least the next two to three years. The cobalt market has remained strong for the period and as Minara is a significant producer of cobalt, this has assisted in offsetting some of our cost pressures. |
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| aus der Diskussion: | Minara - Optionsschein auf Nickel |
| Autor (Datum des Eintrages): | Extrabreit (20.08.08 15:00:14) |
| Beitrag: | 1 von 28 (ID:34777482) |
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