my valuation 35millcapex costs similar to mgx

This company looks very good long term

In relation to capex i believe they said they needed approx 350mill

Also they are near the ocean ala MGX in the same vicinity

Look at MGXs costs

MGX costs around 90-100bucks from what i gathered from report and they produce close to 10mill a year ideally (i think 8mill this year)

If PLV produce 8mill per annum at prices of 120bucks on average, theyll make 20-30bucks bucks per tonne margin

lets assume 25 bucks a tonne margin long term

On 8 million tonnes thats 200mill EBITDA

NOw theres approx 205mill shares + options on issue

They need 350mill CAPEX and have 10mill in bank

So....... theyll definately need to raise capital at some stage

lets assume they issue an extra 125mill at $2 (in the future of course) to raise $250mill of the 350mill req capex; They can debt finance the rest of the 100mill or get the offtake partner to fund for a little stake etc

That would mean EBITDA of 200mill on 330mill shares (after raising); Assmume another 20mill options to make share capital at 350mill shares + options

Apply resource tax at 40% : 200mill*0.6= 120mill NPAT

120mill/350mill equity = 34 cents per share

Give PE 8: $2.72

Give PE 10: $3.40

* NOte this all ASSUMES they raise 125mill shares at the PRICE OF $2 and debt finance or get an offtake JV to fund the rest, so they may give up a bit of the compant to an offtake JV partner etc;

If we assume they give up 20%, then out valuation at PE 10 of $3.40 goes down to $2.72

* Another note: I coulsd be wrong on the costs front, obviously they have completed a PFS/BFS , but ive looked at MGXs costs for guidance as theyre right nearby

Costs for MGX are pretty high for some reason?? ( Maybe coz theyre near the water and the quality of ore needs more treating?? Or its not near DSO % levels)

Still this shows that theres plenty of upside

****Others please submit your own thoughts on costs, capex etc etc

Note the EPS figure dsnt include dep and amortisation or royalties which could lower the profit by 10%+ or so