Buy Note: London mining company reducing debt and cutting costs

For those seeking a mining company with a solid financial position to benefit from an upturn in commodities, this may be the answer.

The culmination of the company’s efforts on the capital and cost savings fronts was well received in the cash flow statement. The company reported an increase in net cash flow from its operations for the half of 82% on the first half 2015 result, to US$465 million.

Key Considerations:

• Weak dollar to act as a tailwind

• Implemented significant cost reductions

• Strong balance sheet

• Net debt down considerably

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