I believe in the ironsands, but I reserve judgement on the PRC component until I see some coal.
Printable View
Theres a webcast about the quarterly results at 11:30 this morning if anyone is interested
http://www.nzog.net/webcasts
Quarterly results obviously provoked alot of discussion.....
At 30 June 2010, NZOG’s cash balance was the
equivalent of NZ$143m. NZ$63m has been drawn
from a NZ$75m debt facility with Westpac, giving
NZOG a net cash position of NZ$80m.
had too many beers but can someone tell me in semi-drunk form whats been done with the $63m?but as a posiivte they reckoned at last agm they gauged about $60m pa from kupe, and atm its on track for $72m
The $63m was for the Kupe costs
Over $40m of NZO funds were used for Pike River as well during the quarter
Cashflow report
http://www.stocknessmonster.com/news...E=ASX&N=339397
Activities Report
http://www.stocknessmonster.com/news...E=ASX&N=339396
Am tucking into a rather nice chinese beer Tsingtao (640ml)
so theyve always had the kupe $63m debt and just decided to pay it off? or it was an extra kupe cost from recently?
Good news for NZO, they've just been turfed out of First NZ Capital's NZ Growth Portfolio and replaced by RBD. Talk about shutting the stable door after the horse has bolted - on both sides of the equation!
Oversold signal
source: From NZHerald Stock picks article
DOWN IN THE DUMPS
"Yesterday's quarterly briefing by New Zealand Oil & Gas failed to find much favour with shareholders.
NZOG chief executive David Salisbury told investors the company made $31.3 million in operating revenue for the June quarter, putting its revenue for the full year at $99 million.
It shelled out $38.9 million to support its investment in Pike River and a further $11 million on exploration.
Salisbury said it was "very disappointing" commercial discoveries were not made in two wells drilled to the southwest and east of Tui, but the results overall had, with one exception, validated the geological modelling of Tui.
"So we continue to look at prospects around the Tui field," Salisbury said.
But despite talking up prospects of its offshore Taranaki field at Kaupokonui, NZOG's share price fell, adding to a tough year in which the shares have fallen by more than 26 per cent.
NZOG is now the biggest decliner in the main listed companies outstripping even Telecom's poor performance."
In a recessionary cash strapped world I would have thought $99mill revenue was a positive - obviously not - funny world.