SIHAYO GOLD LIMITED (SIH)



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General Information
Company Name: Sihayo Gold Limited
Stock Code: SIH
Website: www.sihayogold.com
GICS Sub-Industry: Gold
Market Cap ($M): 62
Equiv. Shares (M): 845

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.076 $ 0.076 $ 0.076 $ 0.076 $ 0.073 100,000 $ 0.003  4.110 %

Company Overview

Business Description:
Sihayo Gold Limited (SIH, formerly Oropa Limited) is a mineral exploration company with gold exploration projects in Indonesia. SIH currently focuses on development of its flagship project, Sihayo Pungkut Gold project, in North Sumatra.

Strategy Analysis:
SIH is focused on developing the Sihayo Gold project to an operational stage. Sihayo Gold reported negative cash flow of $4.04m for quarter ended 31 December 2012. Operating cash flow for the period was $(3.98m). Payments for exploration and evaluation were $(3.89m). Investing cash flow was $(60,000). Financing cash flow was nil. Cash in hand at the end of the quarter was $4.13m.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2012  A -9.7 -1.4 -- 0.0 0.0 0.0 --
2011  A -10.6 -1.8 -- 0.0 0.0 0.0 --
2010  A -8.7 -2.2 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F
Beadell Resources (BDR) $523 M -- -- 0.1940 -- 3.9583 3.3151 0.0000 0.0000 0.0477
Newcrest Mining (NCM) $8,547 M -0.0378 -0.4892 0.0930 7.8804 15.4261 14.1139 0.0314 0.0174 0.0224
OZ Minerals (OZL) $1,241 M -0.6077 -- -- 9.8199 -- 39.4788 0.0733 0.0108 0.0212
Regis Resources (RRL) $1,642 M 0.7775 1.2121 0.3428 22.7273 10.2740 7.6514 0.0000 0.0580 0.0850
Sihayo Gold (SIH) $66 M -- -- -- -- -- -- 0.0000 -- --

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
SIH -- -- 2.11 -- --
Market 0.82 14.1 1.19 1.94 1.63
Sector 0.54 8.13 0.58 2.01 6.08

Directors
Name Position Start Date
Mr Peter Ross Bilbe Non-Executive Chairman 03 June 2010
Mr John Blake Non-Executive Director 03 June 2010
Mr Misha A Collins Non-Executive Director 08 July 2008
Mr Gavin Caudle Non-Executive Director 08 April 2010

Management
Name Position
Stuart Gula --
Greg Entwistle Chief of Operations Officer
Danny Nolan Company Secretary
Darin Rowley Senior Geologist

Substantial Shareholders
Holding Name
149,850,490 (18.75%) Summit Investments Pty Limited
55,000,000 (6.88%) Shane Investments Kendall Ltd
118,297,728 (14.80%) National Nominees Limited
55,730,296 (6.97%) HSBC Custody Nominees (Australia) Limited

Calendar of Events
Date Event
29 April 2014 Report (Quarterly)
30 January 2014 Report (Quarterly)
12 December 2013 Report (Annual)
30 October 2013 Report (Quarterly)
29 October 2013 Report (Annual)
27 September 2013 Report (Annual)
30 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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