Cash - $82mln
Debt - $60mln
Production cost: net USD40c/lbs zince
Current Zince price: $1 USD/lbs
Margin: USD60 cents
Target production: 55ktpa
Gross cashflow: USD60c * 55ktpa * 2200lbs/tonnes = USD73mln or AUD78.5mln
At 5X of gross cashflow, market cap is around $400mln or over $1.... this thing is low risk entry with potential 150% return.