I am not an accountant so please feel free anyone out there who is, to go ahead and correct or rubbish me.
My take on the value of NKWE. 3PGM+AU 34400oz PM= 413000oz PA Basket price 3PGM+AU aprox $1200oz= $495 mill PA So gross revenue PER ANNUM = US$495 mill PA
Life of mine cash costs OPEX.Earlier estimates $435 to $535 oz they have optimised the hell out of everything lets say $485oz.
Basket price 1200 minus Opex 485oz= Revenue US$295 mill PA
Expenses Simplified.
All other exp 6% of net revenue = $17700000 Amortise Capital expense over 10 yrs PA $62500000 Interest say 8.5% $53125000 Tax estimate @29% $47000000 _________ ROUNDED total exp(after Opex acc for $180000000
Net revenue after OPEX $295000000 Less general exp above $180000000 $115000000
NKWE own 74% of Garatau = so $ 85000000 Divide by 625 mill shares = .136 cents per share eps PE of 10 with 50 yrs of mining to come with no capex left after 10 years.Sure they have to come up with 45 mill but that is for Tabatsu,another story all the above is Garatau.
So my valuation is $1.36 per share UNDILUTED.
OK fellows tear me to pieces!
NKP Price at posting:
15.0¢ Sentiment: LT Buy Disclosure: Held