I had a look at the December 17 quarter and to me these guy's look like they're starting become profitable
See below my simplistic analysis of the numbers. It looked to me that they paid down some debt last quarter (663,000) which downplayed the bottom line.
Am I reading this correctly?
DescriptionColumn2Dec 17 Qtr actual
Column 1
Column 2
Column 3
0
Coal (tons)
1 mth
44,513.67
1
Coal (tons)
3 months
133,541
2
Sales per month (avrge)
$3,280,000
3
Sales for 1/4
$9,840,000
4
Sales per annum (based on Dec 1/4)
$ 39,360,000
5
Production cost 1/4
$8,478,000
6
$ per ton
$ 74
7
Costs per ton
$63.49
8
Profit per ton
$10.20
9
% profit per ton
13.84%
10
Profit on annual turnover
$5,448,000
11
return per share
$ 0.01528
12
N° Shares
356,500,000
13
Current share price
$0.013
14
% profit on share
118%
IEC Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held