problem is EL, that igo is not a majority holder of this tropicana. Only 30%. and tropicana won't be making money for several years. If it is 3mOZ then IGO's stake is only 900,000ounces.
The other bits of igo should only have a p/e of about 3-4x. this is because of mine life problem. So $12m profit for the quarter *4 = $48million per annum. Multiply this by about 4 = $192M. Add $50M for exploration, so about $250M is the fair value. Rest $150M is tropicana, rest cash. So mkt is valuing tropicana at about $500Million, as a potential 4-5mOZ min($100EV/ounce).
looking good lt value again, page-14
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Last
$5.08 |
Change
-0.100(1.93%) |
Mkt cap ! $3.846B | |||
| Open | High | Low | Value | Volume |
| $5.15 | $5.22 | $4.99 | $24.94M | 4.895M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4024 | $5.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.09 | 5167 | 4 |
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| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| IGO (ASX) Chart |