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1.1¢ china magnesium corporation limited

Ann: Appendix 4C - quarterly, page-11

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Chalks

482 Posts.

30/01/15

12:03

Post #: 14666666
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Originally posted by asteroider ↑

A 2nd coke cracker for $9 million!?! Thought last year they said capes would be reducing on these and what did the last one cost? Well we dont know, but look at the income statement and balance sheet and you can see what they spent last year on one cracker never mind the value of the entire operation.

No. Methinks to do with 'expanded trading desk' activities. Product in product out and breakeven for all the effort. It like a duck paddling upside down on a lake..... somewhere beneath the water it's all serene but all we can see if the frantic flapping of webbed feet.

Now with 50% declines in commodity prices running a trading desk is VERY risky business and is certainly worthy of monthly or quarterly guidance updates. If they get one trade wrong in this environment it could go into admin in a weeks time which is why ASIC normally expects companies like this to put it to their shareholders if they want to change the nature of their business.

Just have to pray to the fairies that after many years of stuff ups these guys have finally realized they are suddenly more clever than the Goldman Sachs crew.

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Revenue growth of $11 mil should come with an explanation..... Just emailed the MD to see if one is coming.... will share the response if I get one

CMC Price at posting: 5.9¢ Sentiment: Hold Disclosure: Held
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