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Sorry they may have an accounting profit - not cash flow as the...

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joewolf

4,503 Posts.

174

01/11/14

08:18

Post #: 14220696
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Originally posted by joewolf ↑

Actually we have an insight into that : If the EGO income is barely matched by costs at the production level they make nothing or a very small amount. If memory serves they have a net loss last year on Oil and gas but that does include others. If you do the numbers from the EGO cash flow they are break-even on the JV but have admin costs. Some of those admin costs would be shared admin on the JV - How much we dont get a breakdown but if they make in cash flow more than $75K to $100K per quarter it would be a lot. Not material to ERM at all.

If you want to look at ERM presentations and AFS - I just cannot spend any more time this weekend.

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Sorry they may have an accounting profit - not cash flow as the gas to alcoa is recorded as revenue but is not cash. In reality however the loss on the EGO shares would have wiped that out so I reckon they have not booked an accounting profit at all.

EGO Price at posting: 0.6¢ Sentiment: None Disclosure: Held

EPW Price at posting: $1.82 Sentiment: None Disclosure: Held
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