Reminder of the recent Fosters research note of 25th June
Earnings and Valuation:
• We estimate first revenues and earnings for CAY in FY24 from Minim Martap.
We forecast NPAT of $11M in FY24e rising to $52M in FY28e as bauxite prices
rise and Guinea supply growth subsides.
• We value CAY at $0.32/share, based on 0.5x NPV10. We assume equity: debt
funding of 50:50. However given the tier 1 asset, strategic/offtaker equity in
project and/or CAY are also viable. Our unrisked NPV10 of CAY is $0.66/share.
Rail for Stage 2?, page-32
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Mkt cap ! $89.33M | |||
| Open | High | Low | Value | Volume |
| 6.6¢ | 6.6¢ | 6.3¢ | $56.46K | 874.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 250000 | 6.2¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 6.3¢ | 150000 | 1 |
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