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2.13%

23.0¢ saturn metals limited

Ann: Apollo Hill Gold Resource Upgraded to 1.84Moz, page-26

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Joelstar

4,591 Posts.

3238

05/07/23

00:52

Post #: 68621963
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Originally posted by nordesmic: ↑

A quick NPV(8) model of 100koz for 10 years at A$1000 margin and A$250M capex is ~ A$400M.

While that might show that it is 'feasible', I agree with Joel's assessment that it isn't financeable in this market. When I look at something like Ausgold though with A$100M market cap (and project metrics not too far off the above), Saturn does seem undervalued. I think there is a big knowledge gap of heap leach economics on the ASX. Most investors looking at grade and saying it is too low.

The other option might be a staged approach to keep early capex down. Some of the shallower parts of the deposit have good grades. Heap leach lends itself to staged approach pretty well, especially when early grades and cashflow are good.

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STN is an extremely cheap buy from and EV/Resource standpoint.
Only basket case Kalamazoo is valued below them on my list.

STN Price at posting: 18.5¢ Sentiment: Buy Disclosure: Not Held
8 Upvote

2 Great analysis

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(20min delay)
Last 23.0¢		Change -0.005(2.13%)		Mkt cap ! $71.04M

Open	High	Low	Value	Volume
24.5¢	24.5¢	23.0¢	$20.41K	85.96K

Buyers (Bids)

No.	Vol.	Price($)
1	13333	22.5¢

Sellers (Offers)

Price($)	Vol.	No.
24.0¢	40000	1

View Market Depth

No.	Vol.	Price($)
1	13333	0.225
2	6818	0.220
1	1401	0.215
1	9523	0.210
1	2500	0.200

Price($)	Vol.	No.
0.240	40000	1
0.275	33389	2
0.280	18000	1
0.295	6000	1
0.300	81850	2

Last trade - 15.21pm 13/11/2024 (20 minute delay)

STN (ASX) Chart