Pilbara Minerals Ord Shs T.PLS

RE:RE:Polaris announces 2014 third quarter financial results

[seatleslim]

It looks like it was essentially a cash breakeven quarter on an operating basis net of a 3.5mm increase in receivables and stock-based comp of .9mm. Other add-back to ebitda was "other" gains and losses. Operationally I suppose they were still dealing with 30k-ton limit (vs 50) at the port of Redwood City. If you check the Website, it is apparent that they are executing the dredging project in anticipation of continued growing volumes. CSL/Polaris seem to be the major drivers of this in reading between lines. https://www.redwoodcityport.com/ Additionally they were building out POLB terminal (I'm not sure that 100% of that would be capitalized) Nothing stunning just continued improvement. As has been noted here by others, MLM, VMC, CX, etc, all seem to be pointing to multiyear visibility for pricing and volume increases. Guidance on pricing, POLB shipments and anything they can say about the other development property should be the highlights. Orca and Port facilities are extremely high-grade assets I hope they mature in value to some of the figures that have been used here. I think they should at least be making noises relating to JV and development of Eagle Rock, which is a lottery ticket that we don't seem to be paying for anywhere near current prices.