copper price, page-24

The expert in the nov 17 valuation forecast that we would pay off all the debt and have surplus cash of $41m by the end of this year.

He was counting on 27 KT of production and a copper price of $2.80

If we hit the top of guidance at 24 KT and costs stay the same we will generate around $43.5 million of cash in the second half. I think we need to reduce creditors by about another $22m so will fall short of the $41m but might still have enough for a franked dividend.

One cent only uses $6m. A couple of cents fully franked would be a nice little earner on my pile.