The basic calcs were easy if you want to reproduce:
Shares o/s (from Patersons): ~452m (I have assumed no further dilution on this - in line with their calcs)
Average peer multiple (from Patersons) = 2.76 (EV/kozpa)
kozpa (Patersons assumed average of 125-175 range) = 150kozpa
So the calc for EV (in line with the peer multiple Patersons applied) is:
150 (kozpa) x 2.76 (Average peer multiple w/ no discount applied) = $414M
Given I have assumed no cash/debt, EV should be equal to Market Cap, so divide by 452m shares to get share price... you can do the rest!
PGO Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
