Remember the PFS was based off 500ktpa, whereas the DFS will be 250ktpa for years 1-3 (albeit with a higher margin product).
Base case with our BOAs should see ADN closer to 40c than 20c, using a PE of 20. Few assumptions there as we don't know PRM sale price (assumed $1k). Anything extra (DSO, concentrate) will only send that estimate up.
An NPV > 700m and we cement our valuation heading back to a $1b company in the future.
Ann: Definitive Feasibility Study (DFS) update, page-175
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Last
2.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $65.31M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2458 | 2.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.0¢ | 100635 | 2 |
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| Last trade - 09.46am 02/08/2024 (20 minute delay) ? |
| ADN (ASX) Chart |
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