Sorry if already pointed out, but the cash figure is too high based on historical and future. I reckon recalibrate based on cash figures in last two 4Cs. Tax and royalties are around 30%. I think also assumption of fixed EV is probably not a good one. Can see from SRK and FEL who have no revenue at the moment that there EV has jumped around dramatically. It is probably too early in FEX lifecycle to draw conclusions, but probably a more valid assumption would be to tie the EV to the IO price, and then use futures as the basis for expected IO price. I've also tried to do a DCF but the cash figure in my case is way too low, it's hard to get right.
FEX Valuation, page-290
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Last
26.5¢ |
Change
-0.005(1.85%) |
Mkt cap ! $190.9M | |||
| Open | High | Low | Value | Volume |
| 27.0¢ | 27.5¢ | 26.5¢ | $352.2K | 1.304M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 342515 | 26.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.0¢ | 89917 | 2 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| FEX (ASX) Chart |