I think >US$50M is definitely achievable Jan-June 2022 in repayment, which would take us to less than US$100M of debt... I also think less than US$100M debt could be a nice trigger point for a refinance, but I have been wrong in the past.
Until refinance is sorted, thus giving the company an avenue to use retained earnings for distribution or for acquisition, I do not think we will see a sustained lift in SP. However, given the current futures market for coal and the quick debt repayment currently anything could happen.
I retain 3x EBITDA multiple is not unreasonable for a miner, but this multiple needs to be a realistic price assumption, not the current A$25M/month EBITDA... But yes, A$450M market cap would not be unreasonable for a company with A$150M EBITDA (TER did A$126M EBITDA in last 6 months).
Ann: EBITDA Result for the month of December 2021, page-26
Add TER (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
21.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $168.2M | |||
| Open | High | Low | Value | Volume |
| 21.5¢ | 22.0¢ | 21.0¢ | $284.9K | 1.327M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 19 | 761333 | 21.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.0¢ | 125526 | 3 |
View Market Depth
| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
|
|||||
|
Last
21.5¢ |
Change
0.000 ( 0.14 %) |
||||
| Open | High | Low | Volume | ||
| 21.5¢ | 22.0¢ | 21.0¢ | 731874 | ||
| Last updated 15.59pm 31/05/2024 ? | |||||
| TER (ASX) Chart |