Great analysis Tacair. I wish I'd topped up earlier too, but did...

Great analysis Tacair.

I wish I'd topped up earlier too, but did snag some more today.

With the upgraded resource and DFS likely to yield 2.5-3 x the current figures, this should be set to fly once we get finance secured. Earning US$100m+ p.a. with less than HALF that in CAPEX required, it should be easy enough to get that sorted.

April 2019 DFS summary:


Back in my business school days, depending on the niche / sector, you could use a rough rule of thumb valuing a business at 3 x annual net profit as a minimum.

https://entrepreneurhandbook.co.uk/considerations-when-valuing-a-business/

US$110m = AUS$175m. 80% IRR = $140m.

That puts us around the $420m mark. Seems about right depending on how hot the sector gets and how much of a resource expansion we're going to see over the coming 5 years. Don't forget we've hardly scratched the surface of all our 100's of tenements.

Current MC = $30m. $420 / $30m = 14 x current SP = target of 56c.

Happy Easter everyone.

Stay safe.