MARC 2012

MARC 2012

Out.shares                 1,735,676,781

MarCap                      2,950,650,527.7

2.177 billion pesos          -Equity attributable to parent company     

1,735,676,782 pesos      -Capital:

109,837,311 pesos         -Add-in capital

332 million pesos           -Retained earnings

2.697 billion pesos          -Assets

13 million pesos             -Cash and cash equivalent

76.9 million pesos           -Current asset

330 million pesos            -Current liabilities

519.6 million pesos         -Total liabilities

Revenue:

697.5 million pesos         -2012
842.9 million pesos         -2011
% change:  -20.8%

Net Income: 

137.4 million pesos         -2012
240.3 million pesos         -2011
% change:  -75%

closing price 02-05-2013: 1.70 pesos
EPS : 0.08 centavos
P/E : 21.5x

B/V per share: 1.25 pesos

Price to book value: 1.36x

Note: PE is relatively expensive compared to ORE and NIKL

Info:  

There is a decrease of value in cace (cash and cash equivalent) yearend at 13M from 164M previous year. However small at is seems, 93% of (cace+net annual income) were utilized for investing activities resulting to increase of Equity to 8.4% (169M)- this made the cash and cash equivalent in the end period too little (13M)

It’s not really what it looks like!

-There is also the full settlement of interest bearing loan to Philippine Veterans Bank and Asian Alliance Investment Corp. amounting to 97.3 million

-increase in property and equipment from 725.09 million to 1,176.23 million, or equivalent to a 62.22% increase

-nickel price is at its lowest

Other notes:

Return on Equity:      6.3 %
Return on Assets:      5.0%
Net income margin:   19 % 

Current ratio:           0.23
Debt-to-equity:         0.23   

Source:
MARC 2012