If the POL is granted and LAMP running at full capacity of 22K tpa and
REE prices higher than now* and the COP $14-$15/kg, then the fundamentals should be be:
22 kpa x $15/kg NPAT which is $300 mil NPAT or arpprox 15c EPS
X this by say a P/E of 10 that would give $1.50 share price
or approx $3bln valuation.
If we deduct the $450 mil debt then we get an enterprise value of $2.55 bln
or $1.27/share.
In summary, the 75c/share referred to in your post is well short of the assumptions on which it was based, IMO.
Cheers
Moorookamick
Prosperous 2014 to all. MM
*$35/kg.
takeover candidate 2014, page-20
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