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FLINDERS MINES LIMITED (FMS)


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General Information
Company Name: Flinders Mines Limited
Stock Code: FMS
Website: www.flindersmines.com
GICS Sub-Industry: Precious Metals & Minerals
Market Cap ($M): 80
Equiv. Shares (M): 1,821

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.045 $ 0.044 $ 0.045 $ 0.044 $ 0.045 608,377 0%

Company Overview

Business Description:
Flinders Mines Limited (FMS) is a mining company focusing on iron ore exploration and development in Australia.FMS has two main projects namely Pilbara Iron Ore Project and Canegrass Magnetite Project located in Western Australia.

Strategy Analysis:
In FY10 FMS initiated a pre-feasibility study on its Pilbara iron ore tenements with Worley Parsons. The Canegrass project is currently in Scoping Study stage. Metallurgical, mining and marketing studies will also form part of the pre-feasibility study. In addition to the iron ore activities, FMS has continued with its Diamond and Phosphate exploration, mainly in South Australia. Flinders Mines reported negative cash flow of $3.14m for the quarter ended 31 December 2012. Operating cash flow for the period was $(3.13m). Payments for exploration and evaluation were $(2.03m). Investing cash flow was $(12,000). Financing cash flow was nil. Cash in hand at the end of the quarter was $10m.

Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  F -17.7 -0.8 -- -- -- 0.0 --
2013  F -16.9 -0.8 -- -- -- 0.0 --
2012  A -4.9 -0.3 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Flinders Mines (FMS) $82 M -- -- -- -- -- -- 0.0000 0.0000 0.0000
Mirabela Nickel (MBN) $136 M -- -- -- -- -- -- 0.0000 0.0000 0.0000
Orocobre (ORE) $159 M -- -- -- -- -- -- 0.0000 0.0000 0.0000
Sirius Resources (SIR) $586 M -- -- -- -- -- -- 0.0000 0.0000 0.0000

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
FMS -- -- 1.04 10.00 --
Market 0.83 14.4 1.22 1.88 1.72
Sector 0.59 8.57 0.69 2.00 7.29

Directors
Name Position Start Date
Mr Nicholas John Smart Alternate Director 07 December 2009
Mr Gregory Mornington May Alternate Director 08 April 2005
Mr Bob Kennedy Executive Chairman 14 December 2001
Mr Ewan John Vickery Non-Executive Director 16 January 2001
Mr Kevin Malaxos Non-Executive Director 21 December 2010

Management
Name Position
David W Godfrey Chief Finance Officer,Company Secretary
Nick Corlis General Manager - Business Development
Mick Anstey General Manager - HSEC & HR
Miro Rapaic General Manager - Project Development

Substantial Shareholders
Holding Name
130,942,847 (7.19%) UBS AG and its related bodies corporate

Calendar of Events
Date Event
22 April 2014 Report (Quarterly)
30 January 2014 Report (Quarterly)
29 October 2013 Report (Quarterly)
14 October 2013 Report (Annual)
29 July 2013 Report (Quarterly)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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