There are broker reports available on LNC and CNX. I did a rudimentary analysis of the Kingaroy project on an unrisked basis a few weeks ago. You may have missed it. Here it is:
Using the latest 3B and the figures from the presentation last year. Capex for 400 MW power station is $113 million. Fully diluted CXY has 747,368,417 shares, assuming all options are exercised, CXY now has enough money for the trial burn and ongoing working capital. If they raise 40% of the equity for the project at say 20 cps that equates to $45.2 million /$0.20 = 226 million shares. Total number of shares on issue would now be 973,368,417.
If the company trades at a PER of 5 and with an annual net cash flow of $35.1 million for the 400 MW power station, then that would value the company at 18 cps for a successfully completed 400 MW power station.
CXY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
