here are my back of the napkin notes:
Last Price
17.5c
1 Market Cap (MC)
17.11M
2 Total assets
8.3m
As at 2019 annual statement
3 Total debt
600k
As at 2019 annual statement
4 Cash on hand
1.1m
*COH excludes 373k startup provisions for plant
*sold tailing for 6m (4m cash + 2m royalties over 13months) no payment received yet
5 Shares on issue (SOI)
98m
6 Enterprise value (EV)
EV=MC+TotalDebt−Cash
16.5m
Using 2019 numbers
7 Cash at bank
1.1m
8 Est. Spend next Qtr
300k
4 qtrs funding left available (ref 8.7 of june2020 qtr report)
9 Current Qtr Cash burn
300k
Overview ofprojects:
Pilbra (Strelleyproject - gold - mallina basin WA)
-acquired land nextto DEG
-3 prospects readyto be drilled (no date yet)
tick hill - gold
-pay someone toprocess gold recovery. AISC $1493, est 27-28k oz @ todays POG...nice (25mil pretax Ref
FS )
-sold tailing for 6m(4m cash + 2m royalties over 13months) no payment received yet
-current projectvalue 18m after sale
-drilling to extendresource. No dates specified
production timeline
-still discussingcommercial terms
-still waiting ongov approvals. Est 2-3 months
Tick hill - copper.Mt Birnie. Greenfields. No drilling planned
Malmac project(gold, copper, lead, zinc, nickel - greenfields prospects)
Throssel project(gold - greenfields prospects)
Annual statements.
https://hotcopper.com.au/threads/ann-2019-annual-report.4979441/
Recentannouncements:
https://hotcopper.com.au/threads/ann-june-2020-quarterly-report-appendix-5b.5528069/
https://hotcopper.com.au/threads/ann-investor-presentation-mines-money-conference-2020.5452959/
Risks:
-no drilling plannedyet
-delays to tick hillmining approvals + commercial agreements
-tick hill gold notas good as forecast
-tailings royaltiesnot as good as forecast
Summary
1.1m cash, no debt.
4mil receivables +call it 1.6m royalties with risk factored in
18m proven resource
4 drilling projects- no dates planned - ballpark value 1m each
300k provisions forprod
Total 29m
Current MC 17.5m
And thats with theprice of gold 6 months ago
CNB Summary and Why Its So Undervalued, page-4
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Last
51.0¢ |
Change
-0.015(2.86%) |
Mkt cap ! $87.68M | |||
| Open | High | Low | Value | Volume |
| 52.5¢ | 54.5¢ | 51.0¢ | $45.29K | 85.50K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9999 | 51.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 56.0¢ | 12141 | 2 |
View Market Depth
| Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
| CNB (ASX) Chart |