Another datapoint for the current valuation of AKO.The sources...

Another datapoint for the current valuation of AKO.

The sources below provide the % of NPV expected at PFS stage by Edison Investment Research. Both suggest an implied expected valuation of ~16% of NPV. AKO's NPV for the DSO-operation for Bekisopa is A$615m as per Orior Capital Report (10% asset discount rate). Multiplied by 16% plus cash gives us approx. A$103 million valuation for AKO.

AKO currently has 97 million shares and options on issue I believe, which gives a target share price of approx. $1.06 at the current PFS stage.

Still incredible value at current share price levels. Next catalysts likely to be updated resource and permit approvals.

Source:https://www.edisoninvestmentresearch.com/?ACT=19&ID=19909&dir=sectorreports&field=19 [PFS stage table below of 16.3% of NPV, p9]
Source:https://www.edisongroup.com/research/salt-plus-potash-plus-iron-equals-value/23373/ [PFS stage chart below, 37% IRR per Orior Capital implies approx. 16% of NPV consistent with the above]