BMN 0.91% $3.27 bannerman energy ltd

len jubber letter, page-11

  1. 1,517 Posts.
    sheepdip

    BMN fundamentals have improved since Sulphur prices
    plunged however MAK is still clearly ahead on forecasts
    profits with a lower market cap.

    BMN

    NPAT= (53-25)x.97x.7x7= 133m USD

    MAK

    NPAT=(200-80)x.8x.7x3= 201m USD

    Also capex for MAK is only 20% of BMN forecast 400m USD
    I dont downramp but merely state the facts as they
    currently are.
 
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