I just confirmed depreciation for FY12 will be -47m. So EBIDTA at 48,2, less 47 for depreciation&A = EBIT of 1M. Less interest (-2) is -1m and about -8m for tax = net loss of -9 mill for FY12.
However, I estimate..
FY13 NPAT of 22m FY14 NPAT of 58m FY15 NPAT of 81m
Maintenance CAPEX, which I gather is the same as what KZL refer to as mine development costs was -21 last year, so -30 this year looks right.
KZL Price at posting:
32.5¢ Sentiment: LT Buy Disclosure: Held
