its a pretty moderate volume rise as well.
very tempted to sell, but this looks like some indiscriminate buying to me.
JORC on the way.
40Mt@Bayanstogt(possible regional target of 150-200Mt) suggested.
A 2Mt operation might fetch a margin of about 40% after stripping crushing and screening.
Assuming a price of $100/t
That looks like an estimate EBIT of $80m to me for a pretty low CAPEX high demand product that is very close to infrastructure. Assume a 50% tax rate, put it on a lowly P/E5 and shazaam we have a $200m free cash generator with substantial expansion to offset any dillution. Plenty of upside left in this one.
Back in the bottom drawer. Wake me when she gets to $1 :)
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