I do not mean to blatantly promote my Twitter (apologies in advance) but this morning I asked a question of the Twitter uranium world on BOE's current valuation and got a number of interesting responses. I won't repost it here - too difficult - but if you can check it out yourself.
The brief gist of it is that at 30c at today's open we had a market cap of A$683m, yet our NPV is A$420m. On that basis along Boss looks very expensive (how many other 'junior' miners would you find where the MC was greater than the NPV?) This was the question I asked and the answers received tended to be along the following veins:
- NPV is based on US$60/lb U price and seems likely it will far exceed this (at least in the short term)
- NPV is based on 36M lb's and Boss' full JORC is 71.6M lb's
- There is plenty of exploration upside to expand the JORC by 58-190M lb's (NB: this would be the absolute game changer for me)
- MC includes 170M plant on care and maintenance
- MC includes a premium given the high-calibre management team and tier 1 jurisdiction (SA).
Just some food for thought. I bought into Boss because I want the first-mover advantage, someone who will actually be able to sell product into the next bull market and potentially reward me with dividends. Not many ASX U stocks can offer that potential today. By necessity it means our market cap is already one of the larger ones, so the % gains will be lower. However as noted above, if Boss can expand the JORC resource and therefore the Life of Mine, anything is possible.
So I await most eagerly the exploration updates. The 2nd September announcement noted "results due next month and drilling scheduled to start in the coming quarter".
I bought more today: for a more recent uranium entrant, red days are my happiest ones.
Cheers,
m
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$3.32 |
Change
-0.060(1.78%) |
Mkt cap ! $1.360B |
Open | High | Low | Value | Volume |
$3.37 | $3.37 | $3.28 | $7.042M | 2.119M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 14566 | $3.32 |
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Price($) | Vol. | No. |
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$3.33 | 10000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 14566 | 3.320 |
4 | 61565 | 3.300 |
3 | 18026 | 3.290 |
12 | 71014 | 3.280 |
6 | 19859 | 3.270 |
Price($) | Vol. | No. |
---|---|---|
3.330 | 10000 | 1 |
3.340 | 2496 | 2 |
3.350 | 37629 | 4 |
3.360 | 13162 | 3 |
3.370 | 27637 | 4 |
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