I'd say STX is over paying for TPD.
- $30M/yr for 5 years isn't worth $150M today - especially in a high interest and inflation environment. At a NPV of 10%, it's worth $112M.
- $127M of STX shares now won't be worth $127M in 5 years. Hopefully it'd be many multiples of that.
- Exposure to currency risk and spot prices that can move the revenue either way.
- There's extraction and pipeline tariff to pay.
- There's 10% WA royalties to pay.
- And ofcourse taxes.
Ann: 2023 Strike Annual Report, page-98
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| Open | High | Low | Value | Volume |
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