Half the profit comes from mining. Bootu Creek and Marketing associates (Tshipi).
Was the mine set to run out this year? I think the sinter plant was due to start Q2 2019. Im not sure 250kmt a year is going to replace the 95m profit generated by Bootu Creek.
The Group’s total borrowings increased marginally to A$512.9 million as at 31 December 2018 from A$510.7 million as at 31 December 2017.
My view is that they should have paid down debt instead of handing out dividends. Finance cost is 44m$. That is over 8%.
OMH Price at posting:
$1.36 Sentiment: None Disclosure: Not Held
