I agree the numbers on the surface look a bit disappointing. However the NPV from the original DFS was using a selling price which was way above the phosphate price at that time, so that DFS was never a realistic reflection of the present day conditions.
This DFS looks to be a lot more realistic in that it uses present day prices and has been adjusted for the cost inflation we are presently experiencing. I am particularly interested in their exploration into packaging sizing options. It may be more lucrative for them to run a smaller operation with higher margins but finding a market for their product will be the challenge there.
One thing I am not a big fan of is pre-tax NPV's. In my opinion the companies that go down this path are not fooling anyone who matters in terms of determining the ultimate value of their project. Yes from a window dressing point of view a pre-tax NPV looks much more impressive but personally I would prefer to see companies report an after tax NPV warts and all.
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3.8¢ |
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-0.003(7.32%) |
Mkt cap ! $32.57M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 201 | 3.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.2¢ | 225496 | 3 |
View Market Depth
No. | Vol. | Price($) |
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1 | 201 | 0.039 |
1 | 4113 | 0.038 |
1 | 50000 | 0.037 |
2 | 31000 | 0.035 |
2 | 401515 | 0.033 |
Price($) | Vol. | No. |
---|---|---|
0.042 | 225496 | 3 |
0.043 | 260378 | 5 |
0.044 | 354100 | 3 |
0.045 | 90000 | 1 |
0.048 | 64500 | 2 |
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