this is great, thanks for having a go at it mate. All seems about right to me. Hopefully they’ll give some sort of timeframe for upcoming auctions.
I’d be surprised if they did a buy back. The number of shares on issue is reasonable for a company this size.
more likely imo is that they’ll mention plans for farm acquisition. The market may not like the cap ex, but I think it’s sensible as I’m thinking of this as a 5 year investment. Still looking for bags here. Still the only publicly listed pearl company in the world as far as I’m aware so if anyone wants exposure to this commodity this is the place to be.
Growing at the rate they are, 10xNPAT seems fair value to me. Which puts the SP somewhere around 60c. Very ballpark estimate. All IMO
ATP Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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