"Preliminary studies indicated an optimised pit of over 2.0 million tonnes. This is based on current assumptions that included a processing rate of 400,000 tpa and current molybdenum and tungsten prices discounted by 12% and 20% respectively.
Based on these assumptions Thor believes it can achieve revenue in the region of $154 per tonne and operating costs of around $80 per tonne."
My projection:
400,000t x $74 margin = $29,600,000 EBITDA per annum
Minus 30% tax = $20,720,000 NPAT (not sure about Depreciation etc. but this will leave more $ in kitty).
Fully diluted shares on issue ~ 190,000,000 ??
EPS ~ 0.11c
PE ~ 8
Price ~ 88c
No matter how conservative you want to be, if Molyhil proceeds it is a multibagger from the current 23c price.
Then there is the upside of the Uranium, Tungsten greenfield dirt.
Value to be had.
THR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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