"So 2ic, a MC of A$300 would equate to a SP of 44c ?"... G1A owns 60% of Abra, so at 44c and a $300M MC for G1A , 100% of Abra is being valued at A$500M.
The 2019 DFS converted $1214 LOM free cashflow into $553M pre-tax NPV8% (45% conversion). 45% of $734M in the 2022 mine plan update equals $330M pre-tax NPV8% on a similar basis. 60% of $330m is A$200M which would seem to fully value G1A, ignoring equity contributed against questionable assumptions in the new mine plan... For numerous reasons I can't see it trading at fair value because who wants to pay full value right. The upside is exploration of course, get lucky with a new discovery or materially add to Abra mine reserves and you get a step change up in value.
GLTAH
G1A Price at posting:
23.5¢ Sentiment: Sell Disclosure: Not Held
(20min delay)