@plough
I take that back about OBM looking overvalued.
Just been having a closer look at over their plans.
Their Sandking UG prospect looks like it will definitely be a second production front. This should push head grade to about 4gt.
Their plant has a 1.2mpta nameplate. They'll probably need to reduce that slightly to deal with the harder ore blend. 1.1mtpa * 4gt = 130k oz at 92% recovery rate.
130k * $1,700 margin = 220 million OPCF
Current EV approximately 665 million.
OBM EV/OPCF = 3
SPR EV/OPCF = 2.6
BGL EV/OPCF = 5.75
SPR still looks the best value of the three using a back of the envelope estimated operating cashflow as the yard stick although OBM is looking like a pretty good buy if they can ramp up to 2 UG production fronts.
@ploughI take that back about OBM looking overvalued.Just been...
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$1.11 |
Change
-0.100(8.26%) |
Mkt cap ! $1.228B | |||
| Open | High | Low | Value | Volume |
| $1.18 | $1.19 | $1.09 | $8.904M | 7.933M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 168874 | $1.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.14 | 30000 | 1 |
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