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0.3¢ morella corporation limited

Ann: Altura To Undertake A$28 Million Financing Package, page-280

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Ianwil

13,081 Posts.

904

12/02/19

18:10

Post #: 37414085
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Originally posted by Egeria ↑

I'm trying to find reasoning in your post to respond without sounding offensive and without turning this thread into a corporate finance 101 lesson.
You say PE should be based on a snapshot in time not forward looking, and should be using current EPS. What is the current EPS you are using? Or is it one you are assuming when we are at nameplate? See where I'm going with this.
I prefer to use EV/Ebitda for these sort of projects but I'll leave that for now.
On the downramping, what I say is applicable to any mining project and not specific to AJM, take from that what you will. I was offering feedback to someone who asked for it.

@tbinvester halving the mine life isn't the end of the world if you're assuming 2x production and therefore 2x earnings all else being equal, you arrive at essentially the same SP. @DaneTrainNZ this answers your question on impact on SP.
Use the mine life as a guide is what I am saying. The upper bound of your assumption. If the P/E is beyond mine life then you need to rethink your assumptions, if it's not (as you say 30yrs+) then set the P/E at comp levels.

All imo

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Have they finished drilling, there may be more to come, anyone have the answer.

AJM Price at posting: 14.0¢ Sentiment: Buy Disclosure: Held
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