Stock data
| Market cap. | £29m |
| Last close | 18.25p |
| High / Low (52 weeks) | 71.5p / 18.2p |
| Stock market listing | LSE |
| Forecast net cash (£m) | 1.1 |
| Forecast gearing ratio (%) | N/A |
| Team | Resources - Mining |
| Sector | Mining |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (16.09) | (33.64) | (68.8) |
| Relative * | (11.97) | (28.19) | (65.72) |
* % Relative to local index
Other companies covered in sector
| Y/E Mar | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 0.0 | (0.3) | (0.6) | (0.4) | N/A | N/A |
| 2011A | 0.0 | (0.5) | (1.7) | (1.1) | N/A | N/A |
| 2012E | 0.0 | (0.5) | 5.1 | 3.3 | 5.5 | N/A |
| 2013E | 0.0 | (0.5) | 20.8 | 13.1 | 1.4 | 1.1 |
Last updated on 17/04/2012
Latest research
Start up begins
Update | Mining | 07/12/2011
Start up begins
Update | Mining | 13/09/2011
36% discount to assets
Outlook | Mining | 18/04/2011
Path now clearer
Update | Mining | 04/11/2010
Full production April 2011
Update | Mining | 05/08/2010
Resource grows
Update | Mining | 28/01/2010
Risks diminish
Update | Mining | 27/11/2009
Potential future P/E of c 1x
Outlook | Mining | 01/10/2009
Investment summary
Ore mining operations at James Mine began on 2 April with planned total mining for 2012 of 2.5-3Mt. Daily mining rate at James North and South deposits is expected to be 15,000t ore. The Silver Yards processing plant is due to re-start in early May 2012. Its Phase 3 expansion is well advanced and should be in place by mid-2012. This should increase daily plant throughput to 12,000t and improve weight recovery to above 75%. The yield from treated ore is expected to be up to 1.5Mt of saleable product. With further tonnage of DRO available, the total 2012 saleable production is expected at around 2Mt. The first ore train (with DRO) left on 4 April. The diamond drilling at Parys Mountain in Anglesey has completed seven holes and has determined the limits of the Engine Zone. This will be added into the planning for possible mining with the nearby White Rock Zone. Further holes will now be drilled.
Last updated on 23/04/2012
Industry outlook
Iron ore prices are moving slowly upwards and the current price is around $148/t.
Last updated on 23/04/2012
Key management
| John Kearney, Chairman |
| Bill Hooley, CEO |
| Ian Cuthbertson , FD |
Company address
| Parys Mountain Amlwch Anglesey LL68 9RE United Kingdom +44 (0) 1248 361333 View website |
