Ann: Abra Construction 97% Complete - First Ore Stockpiled, page-16

Very low valuation is unsustainable

• Trades at 0.42x P/NPV on our prices and 0.29x at spot

• FCF yields of 30% at our price deck or 46-51% at spot

• Net cash will exceed current EV by 2027 or 2026 at spot

• Copper zone remains largely untested (but not for long)

So, whats not to love - lead ain't sexy, but this stock will rerate, and after debt repaid, become an institutional dividend stock ?
Current SP movements have been on low volume - volume confirms price, and it will be fascinating to see what price long suffering SH's start to cough up their shares .... I'm a holder till after full commissioning, and will probably hold till after the FY'23 report is issued.
Analyst SP target remains 44c, so 30c target is reasonable ?
Happy Xmas all, especially Rendog.