Thank you pb,
Not least for the bolded letters which are very reassuring . (Now I am replying to your text I scroll up to see what you wrote and that sentence jumps out and makes me very happy ... although as a disclaimer I was. already a bit euphoric from a gluten and dairy feast today.)
....The sentence is still there : )
I am not at all pessimistic either
(I blame Pioupiou and KKLL for the gluten - everyone should know by now I am hair trigger suggestible and the whole thing escalated from thoughts on ‘hlaf a loaf is better than none’ through to history’s bakers rightfully being kings of the world seeing as they owned the ovens people bought their dough to before taking home ‘the bread ‘....
To how
we now own the biggest stress-relieving
oven furnace in
the world Australia, and how, etymologically speaking, I ‘ord’ my NWH shares ......and NRW makes dough for me, which means it is my “hlafdige”!*
(....At this point I need to say I love it for its beautiful mind as well as it’s sex appeal and alchemical kitchen creations.)
*This of course puts us at the cutting edge (the very blade of the bread knife so to speak ) on modern discourse on gender terminology!
And that was before I had looked up the free bread culture of the Roman Empire ( thanks
@KKLL!)
Well it is no coincidence the baguette, from a bakery called ‘Regal’(!), said “eat me”.
Which makes me a servant I think
@Pioupiou as well as an oxymoron (for the active idle curiousity.).
And euphoric too...
And it is still there pb : )
I like the way you say things.
..but am still a bit confused about what you said re the cashflow/imcome situation as it relates to Gascoyne Resources.
The loan - extending payment terms to around 75 days was made in December so Gascoyne could meet working capital requirements
... https://www.asx.com.au/asxpdf/20181224/pdf/441h7thn06gvjp.pdfImplying there will be no December cash flow from Gascoyne?
... the $324 million contract divided by six years averages at $54M a year. Less a few costs, that comes down to quarterly payments of about $12M ..
So there may be a $12 million cashflow shortfall on what was expected?
The company anticipated revenue of about $500 million, EBITDA around $70 million, and earnings of around $45 million.
As $12 million has most likely been removed from the December income, the glass half-emptiest of all would be to take it directly off the earnings?
That would bring them down to $32 million vs $22.5 million as at end of calendar year 2017.
We were trading around $1.60 after the interim results last year .
Given all that has been achieved elsewhere and how unfairly low the price has been recently the fund managers looking for ‘the crack’ would, in my opinion, be very hard to penalise the company if there is a reported shortfall on these lines.
The $12 million cashflow from Gascoyne is just delayed not deleted (or we get a gold mine) plus there will be interest payments coming to us from here on in.
Also we are looking all the brighter now for the earnings downgrades elsewhere.
And didn’t all the broker upgrades appear
after NRW announced the payment extension and loan?
Cheers
(20min delay)
