I think old mate has me blocked but for the sake of this conversation the current bid is nowhere near 1x NAV (unless he is using some really weird definition).
At current spot of $2,050 NPV5 (yeah yeah using a discount of 5 is a whole other conversation) then NAV is ~US$980m or A$1.5bn vs current offer of circa A$300m. Even if you change discount rate to 10 instead of 5 they are paying a lot less than NAV. Given PRU can probably internally fund 10 might not be too far off their WACC.
If you think gold goes higher by the time this is built this chart gives you an idea of the leverage it offers. With AISC of US$950 even in an inflationary environment they should be able to maintain margins.
I think old mate has me blocked but for the sake of this...
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Last
$2.19 |
Change
-0.120(5.19%) |
Mkt cap ! $3.173B | |||
| Open | High | Low | Value | Volume |
| $2.18 | $2.21 | $2.15 | $1.648M | 754.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 27665 | $2.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.20 | 21050 | 15 |
View Market Depth
| Last trade - 10.14am 01/05/2024 (20 minute delay) ? |
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Last
$2.19 |
Change
-0.120 ( 5.43 %) |
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| Open | High | Low | Volume | ||
| $2.16 | $2.21 | $2.15 | 171124 | ||
| Last updated 10.32am 01/05/2024 ? | |||||
| PRU (ASX) Chart |