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Company Information

Company at a Glance

Industry:
Metals & Mining
Fiscal Year-End:
Jun 09

Company Overview

WPG is a resources company with advanced iron ore projects located in South Australia. WPG has both direct shipping ore (DSO) deposits and magnetite deposits. In addition, a new type of deposit, a beneficiable feed ore (BFO), has been discovered. Primary iron ore deposits lie in the Peculiar Knob and Hawks Nest tenements in the Gawler Craton south of Coober Pedy.

Company History

WPG listed on 23 August 2005. Late in 2006, WPG changed its name to Western Plains Resources from Western Plains Gold. The company acquired Southern Iron, owner of the Peculiar Knob and Hawks Nest iron projects, to make it a pre-producer in October 2006. A bankable feasibility study was completed in 3Q07 for Peculiar Knob and showed the project was economical and will move to the production stage. WPG was granted the licences for Buzzard and Kestrel deposits at Hawks Nest in the same quarter.

Industries Of Operation

WPG operates in the Minerals sector, exploring for gold and copper amongst other minerals. Exploration companies aim to discover and delineate occurrences of metals and minerals that can be economically mined and extracted.

Differentiating Factor

The company views SA as a potential new iron ore province and is arguably the largest and nearest to production (besides Onesteel) in this field. WPG is the founding member of the Port Bonython Bulk Users Group, which has successfully lobbied the SA government for the development of a common user bulk commodities export facility at Port Bonython in the Spencer Gulf Region of SA.

Major Customers & Competitors

As an explorer, WPG has no customers at present. WPG competes with other companies involved in exploration activities such as BHP Billiton, Rio Tinto and Harmony.

Research provided by  

Market Statistics

Market Cap ($M):
91.3
Equiv. Shares (M):
80.8
% All Ords:
n/a
12Mth Range ($):
0.22 - 1.06
Turnover ($M pa):
26.1
Index:
n/a
Sector:
Materials
Industry Group:
Materials
Industry:
Metals & Mining
Sub Industry:
Diversified Metals & Mining

Last 5 Market Sensitive Announcements

Date
Announcment
30-Jul-10 16:34
Quarterly Cashflow Report
30-Jul-10 08:26
Quarterly Activities Report
01-Jul-10 09:20
Long term port access secured for iron ore exports
10-Jun-10 05:57
Potential of Penrhyn coal enhanced
07-Jun-10 08:36
Sale of iron ore from Peculiar Knob

Calendar Of Events

Date
Event
06-Aug-09
EGM Date for Special Event
26-Nov-08
AGM Date for Final Year Result
23-Oct-08
Reporting Date for Final Year Result
12-Nov-07
AGM Date for Final Year Result
27-Sep-07
Reporting Date for Final Year Result

Directors

Name
Position
R H Duffin
Non-Executive Chairman
H Roberts
Director
G Jones
Director
R Richardson
Non-Executive Director
L Dean
Non-Executive Director
S Y Lim
Non-Executive Director

Management

Name
Position

There are no recorded management positions for this company.

Substantial Shareholders

Name
% Holding
R H Duffin
13.5
Platsearch
6.8
XIN SHENG INTERNATIONAL
6.2

Consensus Recommendation Summary


0
0
1
0
0
Sell Under Perf. Hold Out Perf. Buy

Number of Brokers in Recommendation Summary: 1

Consensus Earnings

FY09 FY10
Consensus EPS1 (c) -3.9 -4.5
EPS Growth (%)   15.4
P/E Ratio (x) -19.2 -16.7
P/E Rel. All Ords (x) -1.80 -1.49
P/E Rel. Sector (x) -1.19 -5.56
Number of Brokers in Earnings Survey: 1 1

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Historical Forecast Earnings And Recommendations

Consensus Recommendations

Consensus information provided by Reuters.

Consensus EPS Forecasts 1

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Peer Recommendation Comparison

  P/E (x) EPS Chg (%) Dividend Yield (%) MktCap ($M) Price ($) Consensus Rec
  09A 09A 09A    
BHP Billiton Limited 14.1 (13.5) 3.2 134,646.0 40.12 Out Perf.
Rio Tinto 18.8 (56.1) 0.7 42,848.4 70.61 Out Perf.
Newcrest Mining 29.6 (9.5) 0.5 15,815.3 32.71 Out Perf.
Fortescue Metals 76.1 n/a 0.0 13,330.6 4.29 Out Perf.
Western Plains Resources (6.8) 28.3 0.0 91.3 0.75 Hold

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