Aurelia Minerals Ltd (ASX: AMI), a company from metals and mining industries, into the business of exploring base metals and gold announced that it had finalized its previously announced transition to contract mining at its Peak Mines. The contract states that for five years, PYBAR Mining Services Pty Ltd (“PYBAR”) will be responsible for all the underground development and production mining activities at the site.
Jim Simpson who is the Managing Director and CEO of AMI considers the acquisition of Peak Mines, a significant milestone for the company. He believes that by expanding the contract with the PYBAR, will also help in extending the long relationship with the company. Also, move to contract mining, expands PYBAR’s horizon of providing underground development and labor hire. PYBAR is providing services to the company since 2013. The primary purpose of the contract is to manage the transition mining staffs at the site. Both the parties will together look for opportunities for the local community, where the younger generation will enter into apprenticeships and traineeships program.
The CEO along with the board members expresses their gratitude towards the commitment and the patience of the workforce at the Peak mines in the challenging phase of the company. He further shows his interest in working with the PYBAR’s team to meet its long-term goals of developing Lead and Zinc capabilities and also to step ahead towards the Great Cobar exploration project.
The official listing date of AMI on ASX is 08 May 2007. Since its inception, the performance of the AMI is positive. However, the past three months performance of the company is negative. Within ten years journey, the performance of the company is 288.05% and its last one year’s performance is 157.41%.
For the FY2018, the company made an operating sales revenue of $248.599 million. There was an increase in the gross profit by 75.5%. The gross profit on FY2018 was $112.506 million. The net profit for the fiscal year 2018 was $99.105 million.
The balance sheet of the company gives a healthy look as the company has maintained a net asset base of $183.039 million and a debt to equity ratio of 0.45. It indicates that the company holds a position to clear its long-term obligations. The lower debt to equity ratio of the company shows that the company is using its resources and assets to meet the financial requirements instead of approaching any creditor or any financial institution. FY2018 reports an improvement in operating efficiency as there is a decrease in the accumulated losses. The total shareholder’s equity is $183.039 million.
Further, FY2018 reports an increase in the cash and cash equivalent. The net cash and cash equivalent by the end of the period were $66.923 million.
By the end of the trading on 27 December 2018, the closing price of the share was A$0.670 which is 0.025 points below the previous trading day’s closing price. The stock is holding a market capitalization of A$603.18 million and a PE ratio of 4.48x.
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