when you buy a rundown house, page-7

gself

i have seen people do just that with housing.

in fact every day i drive down a section of road nearby with lovely expensive fullsize palms in the centre gracing a full kilometer and remember where they came from.

The driveway of a 400 hectare block.
Did i mention,the removal of the trees paid for the 400 hectares and the house and the stables and made my aquaintance a very happy man.He was glad to see the back of the eyesores.He only bought the block by the way for the palms.Amazing how the machine/truck thingy just grabs them out of the ground and transports them,roots earth and all.
It was the council that payed for them by the way-fools

I hate palms as well,unless of course on a desert island.
On mans trash is another mans treasure.
you'll be amazed what some will pay for a borer riddled mantlepiece.

Like the 15m cash Apex got for part of that tenement that they bought with now nearly worthless shares for $10m a few years ago.

Lets do a junkyard analysis of apex then

Mobile plant and equipment 3yrs old poorly maintained
Cost $30m say $8m owing.
Now correct me if i'm wrong,but i am led to believe,due to the mining boom and delays in supply that old pit trucks are worth close to new at the moment.
lets say their not and worth 2/3rds.that's $20m
less the $8m you owe gives you $12m.
Lets rip out the powerplant.12mw guess at $1.5m/mw
replacement cost $18m say another $9m
Two train plant suitable refractory(sulphide) and oxide ore.
Just what CQT are in need of and costed at around $100m a few years ago.Second hand recently used maybe $10-20m.
Minesite with 5m oz resource in area best guesstimate?

I could go on .but lets say Apex is selling for less than what i'd call a ready liquidation value.
Producing around 70-90koz/yr with a current breakeven of around 5000 oz/month.
They need more ore to the surface and guess what's happening
120kton last qtr and most likely 150kton or more this qtr considering by the end of may they had 100kton already lifted and by my working had already processed 70kton at a higher grade than the last qtr while checking out the biox tanks and modifying operating procedures.

At 120kton hauled its probably marginal-at 150kton hauled its highly profitable.Make it 200kton or more and its a cheap producer.
At $1500 australian an ounce,unless they're burning money in a drum to keep warm,there should be a bit flowing in NOW

P.S. thanks to all the funds(hundred million dollars plus) invested by prior shareholders paying for 7 access declines to get at it.(bit like the palms really isn't it,who cares who planted them(you wouldn't have) as long as you can cash them in and benefit)