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MINERAL DEPOSITS LIMITED (MDL)

MINERAL DEPOSITS LIMITED (MDL)

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General Information
Company Name: Mineral Deposits Limited
Stock Code: MDL
Website: www.mineraldeposits.com.au
GICS Sub-Industry: Diversified Metals & Mining
Market Cap ($M): 408
Equiv. Shares (M): 84

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 4.880 $ 5.150 $ 5.150 $ 4.850 $ 5.050 128,703 $ -0.170  -3.366 %

Current Broker Consensus Recommendation more
Recommendation: Buy
Recommendation Date: 1st May 2012
12 Month Target Price (average): $9.3
Brokers Surveyed: 1

Company Overview

Business Description:
Mineral Deposits Limited (MDL) is an Australian based mining company in the business of finding, mining and processing mineral sands resources. The prime focus now for the Company is the development of the Grande Cote Mineral Sands Project.

Strategy Analysis:
MDL intends to separate its two core assets, the Sabodala gold operation and the Grande Cote Mineral Sands Project, into two separate, publicly traded entities. MDL has proposed to de-merge Sabodala from MDL.. Mineral Deposits reported NPAT of US$255.84m for the year ended 30 June 2011. Revenues from ordinary activities were US$78.96m, down 50.4% from last year. Basic and Diluted EPS was 423.5 US cents compared to (50.4) US cents last year. Net operating cash flow was US$16.18m compared to US$47.47m last year. No dividend was declared.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2011  A -54.2 -89.7 -458.8 0.0 0.0 0.0 --
2010  A 36.6 25.0 -- 14.0 0.0 0.0 --
2009  A -45.2 -35.1 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F
BHP Billiton (BHP) $102,742 M 0.3914 -0.0372 0.2637 8.7762 9.1155 7.2131 0.0294 0.0352 0.0372
Iluka Resources (ILU) $5,259 M 13.0255 0.5928 0.5960 10.3888 6.5223 4.0867 0.0597 0.0796 0.1027
Mineral Deposits (MDL) $422 M -- -- -- -- -- -- 0.0000 -- --
Rio Tinto (RIO) $24,559 M 0.1301 -0.0179 0.1738 7.1298 7.2595 6.1846 0.0253 0.0290 0.0323
Sims Metal Management (SGM) $2,522 M 0.4412 -0.1701 0.6612 13.1777 15.8782 9.5584 0.0384 0.0361 0.0471

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
MDL -- -- 1.17 -- 956.9
Market 0.80 12.1 1.33 1.35 1.68
Sector 0.41 9.48 1.05 1.04 14.3

Directors
Name Position Start Date
Mr Nicholas James Limb Chairman 09 May 1994
Mr Warwick (Rick) Lee Sharp Chief Executive Officer,Managing Director 01 July 2011
Mr Martin Clyde Ackland Executive Director 21 July 2003
Dr David John Isles Non-Executive Director 23 December 2002
Dr Thomas (Tom) Whiting Non-Executive Director 19 January 2012
Dr Robert Danchin Non-Executive Director 09 February 2007
Mr Oliver Lennox-King Non-Executive Director 29 November 2007
Mr James Murray Grant Non-Executive Director 21 May 2009

Management
Name Position
Christopher Young Chief Geologist
Kathryn Davies Company Secretary

Substantial Shareholders
Holding Name
9,461,826 (11.33%) FMR LLC and FIL (formerly FMR Corp and FIL)
9,060,800 (10.86%) Commonwealth Bank of Australia

Calendar of Events
Date Event
29 April 2013 Report (Quarterly)
22 February 2013 Report (Annual)
22 February 2013 Report (Prelim)
23 January 2013 Report (Quarterly)
26 October 2012 Report (Quarterly)
21 September 2012 Report (Annual)
24 August 2012 Report (Prelim)
27 July 2012 Report (Quarterly)
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