@Gratton44
totally legitimate criticism.
but as i said the other day you have to parse the difference between cashflow vs nta then decide whether stock is fair value, cheap or expensive
i dont think there is any doubt that it was a gyppo ipo - big overpromise on cashflow and the readthrough on mgt quality to me is cowboy to this point in time
against that though you've got
- mill that would cost ~$120M to build new today I;d say
- ~38Mt low grade silver stockpile of 52Moz - which unless its degraded significantly from weathering - should be worth at least what ARD/SVL's in ground value is
those 2 projects carry an implied value of ~$1.85 EV / Silver resource ounce currently
So = $96.2M mark-to-market value for the silver stockpile (and good condition stockpiles should really be worth much more than unmined resources)
So the mark-to-market NTA of the stock is notionally $210M + Mt Boppy + any other asset values.
At 51c sp MKR EV (inclusive of debt) = $166m
So basically stock is trading at ~ 40%+ discount to NTA
i think you'll find that others will follow this line of thinking - largely disregard the short term mt boppy gold revenue outcomes absent major over/undershsoot March qtr - and focus on ~750,000koz silver production second half rising to say ~1.5Moz next year
And obviously if mgt starts to get its act together then their actually 900kozpa/2Mozpa silver forecasts will start to get re-priced in
and then you;ve got some wonowinta deeps exploration upside when the actual assays come back
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- MKR: The Best Silver/Gold Play on the ASX.
MKR: The Best Silver/Gold Play on the ASX., page-162
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Last
5.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $41.32M |
Open | High | Low | Value | Volume |
5.5¢ | 5.6¢ | 5.2¢ | $13.24K | 244.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5006 | 5.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.3¢ | 33612 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5006 | 0.052 |
1 | 20000 | 0.050 |
1 | 12000 | 0.047 |
1 | 711678 | 0.045 |
1 | 14000 | 0.042 |
Price($) | Vol. | No. |
---|---|---|
0.053 | 33612 | 1 |
0.055 | 45017 | 1 |
0.057 | 318489 | 1 |
0.058 | 1024750 | 1 |
0.059 | 383708 | 3 |
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