Post tax NPV 388USD at spot REO pricing ~60usd/kg ndpr.
VMM EV ~20M AUD VMM Spot REO NPV ~600M AUD VMM Trades at 3% it's NPV
At scoping study stages I usually assume 10% as fair value. ~60-80M at today's REO pricing.
At PFS maybe 10-20%
That's just my rough guide but project seems quite undervalued based on metrics. Once both PFS drops, this increases confidence on the metrics and affirms development on the project from a timeline perspective more close than different.
price will price but RvR here is good. Just not much love in REO sector. The stocks getting the love aren't viable at today's prices or even higher than today's. Therefore unlikely to be funded, or if funded will mothball. IMHO
SF2TH
VMM Price at posting:
28.0¢ Sentiment: None Disclosure: Held
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