- Release Date: 10/09/24 18:19
FIRB approval received for $1.3 billion minority stake sale in Onslow Iron haul road Mineral Resources Limited (ASX: MIN) (MinRes or Company) is pleased to announce that the Foreign Investment Review Board has provided unconditional approval for the sale of a 49% interest in the Onslow Iron haul road (Haul Road) to investment funds managed by Morgan Stanley Infrastructure Partners (MSIP) for total expected proceeds of $1,300 million.
At 28th Aug: FY24 net debt of ~$4b)
Kudos to BHP kept away from the lithium theme Read below:
Buying BHP shares? Here's why the ASX 200 miner won't be digging up lithium (fool.com.au)
Published July 28, 2023 12:11 pm AEST
But Slattery said BHP shares won't be getting an exposure to lithium. As The Australian Financial Review reports, that's because the big miner doesn't believe it can construct lithium mines at the same large scale and accompanying low costs that have made its iron ore and coal segments so profitable.
BSc, Physics
MSc, International Management
Experience:
Geraldine Slattery, President Australia, leads BHP’s Australia business comprising Iron Ore, Copper, Nickel, Metallurgical and Energy Coal operations in Western Australia, South Australia, Queensland and New South Wales.
Prior to her current role, Geraldine was President of the BHP Petroleum business headquartered in the US with Assets across the Americas, Caribbean, Australia and North Africa.
In her 30 years with BHP, Geraldine has progressively taken on more complex technical, commercial and business leadership roles in Australia, the UK and the Americas, establishing a reputation for creating value through empowered, safety, performance and growth-oriented teams. She also has extensive experience of working with partners, communities and governments in diverse jurisdictions.
Geraldine began her career in project engineering roles in Europe and Australia, within the refining and pharmaceutical sectors.
MIN handed in thier 'report Card' in Release Date: 28/08/24 19:22
Its a B - minus - the markets have played havoc here:
- Revenue of $5,278M, up 10% (FY23: $4,779M). -
- Underlying EBITDA of $1,057M, down 40% (FY23: $1,754M).
- - Underlying Net Profit After Tax (NPAT) of $158M, down 79% (FY23: $769M).
- Statutory NPAT of $114M, down 53% (FY23: $244M).
- - Operating cash flow before financing and tax of $1,909M, up 9% (FY23: $1,750M), including iron ore customer prepayments of $600M. Excluding the iron ore prepayments, cash conversion was 124%
- Strong liquidity position maintained during peak investment for Onslow Iron
- - Completed US$1,100M Senior Unsecured Notes Offering in October 2023.
- - Executed an iron ore customer prepayment of US$400M ($600M).
- - Available liquidity of $2,833M (FY23: $1,791M), including cash of $908M (FY23: $1,379M). -
- Net debt of $4,428M (FY23: $1,896M).
Presentation
Performance:
Return (inc div) 1yr: -30.44% 3yr: -4.00% pa 5yr: 31.93% pa
Mineral Resources Limited (ASX: MIN) (MinRes or Company) has made a significant natural gas discovery, and also provides an update on the lithium business and Mt Marion exploration program.
MIN Market Cap $14.17Bill
Noted share price taking a breather the moment.
Noted: the free flow has came off the boil.
Massive returns: Return (inc div) 1yr: 40.78% 3yr: 59.77% pa 5yr: 38.85% pa
maybe pick up some on price weakness
But IGO & PLS are good propects..
