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  1. #1741
    Advanced Member
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    While I'm not an expert..... this doesn't seem to contain any surprises.
    SP 220....up a wee bit over the last few days. Pleasing

    https://www.nzx.com/announcements/337889

    Disc: As a good Northland citizen. Holding.

  2. #1742
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    Oct 2013
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    Quote Originally Posted by cyclist View Post
    ... The article linked below indicates Singapore complex margin of US$3.50 for the quarter just completed, which should hopefully translate to an NZR margin of around US$8 in the upcoming two monthly update .....

    https://en.yna.co.kr/view/AEN20190617005100320
    Well, got that spectacularly wrong! I do wonder where NZR get their Singapore complex figure from sometimes. It never seems to be close to anything I can find on-line. Very frustrating.

  3. #1743
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    Sep 2012
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    Quote Originally Posted by cyclist View Post
    I think allowing for NZR's uplift and the present value of NZD:USD, that the in-progress year is looking pretty positive (especially relative to the present share price). The article linked below indicates Singapore complex margin of US$3.50 for the quarter just completed, which should hopefully translate to an NZR margin of around US$8 in the upcoming two monthly update. And any spike like is presently happening may get them briefly over cap. Without a shutdown this year, cashflow should be pretty tidy.

    Had to roll my eyes at the solar farm though. I wish they would just stick to their knitting.




    https://en.yna.co.kr/view/AEN20190617005100320
    New GM has got a background in renewables. This could be his version of putting up new wallpaper. Very expensive wallpaper at that. I hope they build oppourtunity cost into their calculations as when the railway line heads to the port (another of shanes projects) I am pretty sure that the substaintial land holding that the refinery wants to turn into a solar farm will be worth a lot more that it currently is.

  4. #1744
    ShareTrader Legend bull....'s Avatar
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    Jan 2002
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    auckland, , New Zealand.
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    cracks all over the place , and poor uplift for them

    havnt been in the stock for a while , got out when realised they are not paying down there debt quick enough when they said they would with the end result being higher dividends. but watching still for possible re entry.
    one step ahead of the herd

  5. #1745
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    Nov 2013
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    Quote Originally Posted by bull.... View Post
    cracks all over the place , and poor uplift for them

    havnt been in the stock for a while , got out when realised they are not paying down there debt quick enough when they said they would with the end result being higher dividends. but watching still for possible re entry.
    A no touch stock but I guess it depends where it falls to, lost enough already on this pup. PS-Few buyers but lots of sellers.
    Last edited by couta1; 22-11-2019 at 09:05 AM.

  6. #1746
    IMO
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    Refining NZ Operational Update for September/October 2019

    • The Company earned NZD 49.3 million in Processing Fees for September/October. Year to date Processing Fee income is NZD 222.8 million versus NZD 209.5 million for the same period in 2018


    The RAP achieved throughput of 3.4 million barrels earning income of NZD 6.1 million, 5% higher than the same period last year.

    Operational availability on the pipeline was high except for a planned short statutory inspection
    he higher freight rates are estimated to impact the cost of crude processed by Refining NZ during November and December in the order of USD -1.00 per barrel as the Refining NZ GRM has a two month lag in the freight rates that are applied.

  7. #1747
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    Nov 2018
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    CEO is fixated on EBITDA when they are stuck firmly on the CAPEX wheel. Capital projects blowing out by huge amounts, CEO leaving after a very short time and didn't bother learning the name of the company he is supposed to be leading. Always refers to them as Refining New Zealand rather than their actual name Refining NZ. While this may seem pedantic it's anything but. No Directors or management own any shares to speak of and never have.

  8. #1748
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    Apr 2014
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    Kinda regret buying into this one heavily a few years ago ... still making a profit but only because of the reasonable dividends ... was hoping this puppy would go up to $3 at one point ... oops

  9. #1749
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    Quote Originally Posted by SailorRob View Post
    CEO is fixated on EBITDA when they are stuck firmly on the CAPEX wheel. Capital projects blowing out by huge amounts, CEO leaving after a very short time and didn't bother learning the name of the company he is supposed to be leading. Always refers to them as Refining New Zealand rather than their actual name Refining NZ. While this may seem pedantic it's anything but. No Directors or management own any shares to speak of and never have.
    This name business is more complicated than that. Their registered name is The New Zealand Refining Co. Ltd!


  10. #1750
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    Yes that's right, and it was always called The New Zealand Refining Company until about 6 years ago when they went through an expensive re-branding and ever since has been Refining NZ with the official trading name of New Zealand Refining Company. In a CAPEX intensive business like this how on Earth can the acronym EBITDA be mentioned? The Depreciation is often 100 million! As Munger says Bullsh*t earnings...

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