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8horse

26,847 Posts.

1841

04/01/15

16:20

Post #: 14534020
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Originally posted by thao.pham ↑

Hi Accaeric,
In the 19/11/2014 AMG Chairman's Address
"Those that have been with us for a while know we run a conservative balance sheet and have brought forward scheduled debt repayments. As I noted in my Chairman’s Report in the 2014 Annual Report, over the 12 months of that financial year, we reduced debt from more than $100 million to approximately $50 million as at 30 June 2014. Next month we will reduce that by a further US$15 million. Our cash position was further enhanced by the acquisition of Iron Ore Holdings. "
If they could do that then now the debt should get down to $35M rather than $50M. We might have to wait the end Jan to get the quarterly report.
If BCI apply the WA discount on the royalties, it could help to save a bit on cost as well. They could use that to reduce debt.

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In my last calculation, gross debt was US$27.5m, as US$22.5m (US$17.5m for secured loan + US5m unsecured loan). Refer to my spreadsheet.

BCI Price at posting: 62.0¢ Sentiment: None Disclosure: Not Held

FMG Price at posting: $2.83 Sentiment: None Disclosure: Not Held

MGX Price at posting: 28.0¢ Sentiment: None Disclosure: Not Held

ARI Price at posting: 23.0¢ Sentiment: None Disclosure: Not Held

AGO Price at posting: 23.0¢ Sentiment: None Disclosure: Held
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