yep, really looking forward to an updated feasibility study once the deal is done... the basket price is impressive now, and with indication of far lower cap expenditure it is going to look rather nice i think...
after they announced basket price has risen 50% i did some quick numbers... old gpx PFS said US$47m EBITDA per annum... well, at 69kt pa at US$600/t more (being 50% of US$1200 basket price in PFS) there is another US$41.4m P.A. all to the bottom line..... with 42% )ownership) of that being for GPX. So, without taking cap exp savings even into account EBITDA should be around US$89m PA..... 42% of that for GPX being US$37.4m, or AU$48.6m at current $1.30AU/$1.00US....
nice....
before any capital exp savings, expansion or downstream processing plant.... $48.6m before tax per annum.... and we're currently valued at $23.9m..
once the chinese and tanzania govt sign off, along with an updated feasibility, this should start getting a lot more attention...
MVL Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
