I will attempt give you an idea of how to put a value on RHI....

I will attempt give you an idea of how to put a value on RHI. Fyi the company is about to receive the second and final instalment of $200m from Mineral Resources Ltd as consideration for selling its share in the RHI JV (2 years ago). That is circa $3 per share equivalent before tax.

The company will be paying franked dividends over the next year of perhaps $1.40 per share from cash received (after tax) which is the amount paid after the first instalment. The company will also receive a royalty payment of 0.75% based on the CIF price of all the ore shipped from its tenements as well as several other tenements owned by Minres. Based on a conservative estimate of sale price of AUD100 per tonne and the promised 35mtpa run rate to be reached by June 2025, I estimate royalty receipts of AUD26.25m pa pre tax (less during ramp up).

There are other assets including wholly owned iron ore resources that may be exploited subject to possible agreements with neighbour CZR Resources and also Minres as likely Mining Services contractor. I won't attempt to quantify such potential.

It's not hard to reach a valuation estimate around current price level based on the cash on balance sheet, prospective immediate receipts ($200m) plus annuity value of the royalty imo.

regards
DF