MMG (1208)

Business description

MMG is a mid-tier global resources company that explores, develops and mines base metal deposits around the world. Its headquarters are in Melbourne, Australia, and it is listed on the Hong Kong Stock Exchange.

Stock data

Market cap.HK$9787m
Last closeHK$1.85
High / Low (52 weeks)HK$2.3 / HK$1.4
Stock market listingHK
Forecast net debt (US$m)9833
Forecast gearing ratio (%)414
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual6.35.7(7)
Relative *(3.2)1.61.9

* % Relative to local index

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Company news

/quotes/zigman/3870025/realtime

Tue, 19 Oct 2010 08:18:08 GMT

China's MMG Ltd to spend $3 billion to complete Peru mine

Thu, 16 Oct 2014 06:00:00 GMT

China's MMG output plan for Peru copper mine tops forecasts

Thu, 28 Jan 2016 01:07:30 GMT

Segue Resources lands MMG Ltd investment in Fraser Range nickel project

Fri, 18 Sep 2015 00:19:57 GMT

MMG swings to loss and books $784 million write down

Wed, 09 Mar 2016 14:26:15 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2014A 2480.0 781.0 164.0 2.0 11.9 1.7
2015A 1951.0 421.0 (314.0) (4.6) N/A 3.4
2016E 2404.0 1194.5 (65.0) (1.7) N/A 1.1
2017E 4000.0 2422.3 815.0 6.5 3.7 0.5

Last updated on 29/06/2016

Investment summary

MMG has entered into an amended lending facility with CDB and BOC (Sydney) for the provision of a term debt facility of up to US$550m for the Dugald River zinc project, of which US$250m was drawn in 2013 and the balance available until 27 June 2018. The revised development plan now proposes a 1.7Mtpa plant for annual production of approximately 170,000tpa zinc in concentrate plus by-products over a 25-year mine life. The orebody remains open at depth. First zinc production is expected in the first half of 2018. Remaining expenditure to complete the project is US$600-620m plus interest costs.

Last updated on 06/07/2016

Industry outlook

The copper price appears to be consolidating in a US$2.10-2.30/lb range. Zinc prices have been in a steady uptrend for the last six months and have breached the US$0.90/lb level.

Last updated on 06/07/2016

Key management

Jiao Jian, Chairman
Andrew Michelmore, CEO
David Lamont, CFO
Maggie Qin, Head of Corporate Affairs
Marcelo Bastos, COO
Brent Walsh, Group Manager - Investor Relations
Jo Lynch, General Manager - Corporate Affairs

Company address

Level 23
28 Freshwater Place
Southbank
VIC 3006
Australia
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