Ann: Black Rock Signs MOU for Rail Transport from Mahenge, page-18

Just got this in an email ...Tue, 4 Apr at 9:43 am

Tuesday, 4 April 2023

BKT - BLACK ROCK MINING LIMITED

Macquarie rates BKT as Initiation of coverage with Outperform (1) - Macquarie initiates coverage of Black Rock Mining with an Outperform rating and $0.28 target. The company is developing its Mahenge graphite project in Tanzania with a four-stage development to produce up to 340,0000tpa over 26 years.

The required approvals have been secured including a special mining licence. Mahenge has the fourth largest JORC reserve globally. Over 80% of the first stage production is under binding offtake or option, with POSCO set to take 32% of total volume for the life of the mine.

Target price is $0.28 Current Price is $0.14 Difference: $0.14 If BKT meets the Macquarie target it will return approximately 100% (excluding dividends, fees and charges). The company's fiscal year ends in June.

Forecast for FY23:

Macquarie forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 0.60 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 23.33.

Forecast for FY24:

Macquarie forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.40 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 35.00.

Market Sentiment: 1.0All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources