Quick question. Isn't their plant 800ktpa. Are you using 90% capacity to be conservative or is that what they are actually running it at?
Using your numbers even with Nifty on the books we should see cashflow of something like $30m+ after C+M costs. Still only a 3-3.5x FCF at current MC given we won't be paying tax for a while.
IF IF IF they can get rid of Nifty for $35m + NSR and clear debt then we might have $15-20m cash left by then and we would be trading less than 2x FCF.
Selling Nifty is the key
MLX Price at posting:
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