SFX paid for some research earlier this year (buy-side...

SFX paid for some research earlier this year (buy-side analysts). Research paid by the company is a generally optimistic view -understandable - but it means that the costs of capital/discount rates and general mining/development risk discounts are also highly favourable to the company valuation. Much of the time, buy-side analysis states a "target valuation" rather than a "current valuation" to skirt around risk-adjustments and the time cost of money associated with development projects etc.

Anyway, all that aside - here are some forward estimates by Petra Capital and Bridge St, available on the SFX website:









Note the EBITDA and NPAT and some FCF measures (although a FCF-E value is not present in this analysis). The balance sheet cash positions are also worth noting. Also notice the difference between the two companies estimates - forecasting is hard, even when you're paid research.


Notice a difference between the above values to the previous prognostications on this thread, below.

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