problem about looking for a internal sale is it really needs to be premo pricing as you are dealing in rand. rand is obviously weak to $US/$AU.
duly noted the ipo price of 20c but who knows.. what would you pay??
@ 15c is 50M sale for a proven asset which has 297Mt and as you mentioned $20M+ spent on infra alone with mine planning etc done to create a low cost high quality producer. needs a further ~$X million (< $15M) on it to get into production and at these rates you would expect $12.5M+ profit per year based on ~$10/t profit. Might be more than that margin but with 5.6%++ increase in wages, freight increase etc its a ball park @ $72/t.
I'm just concerned about a cap raise/running out of cash due to time as everything else is in play - they just need to make an educated decision stat.
fundamentals still good - market just crap.
IKW Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
