Do I have this right - they think we'll be worth 51c per share, with an estimate of 2,405mil shares on issue after finance - meaning our MC will $1.2bn for a $4.7bn NPV project?
PLS is at $2.1bn NPV, with an existing MC of $1.45bn.
Suggesting our MC will be more in line with my estimates of around $3bn, and a SP of around $1.25, at the more advanced stage PLS are at.
That's not factoring in Tivan licencing / processing deals, and assumes we're going to have 3 times the current number of shares on issue (something PB has claimed won't be the case).
I think it will be at least that $1.25 figure when we're in production. It wouldn't surprise me in the slightest that once Tivan is proven on a commercial scale, we'll be more than double that figure.
These Analyst reports aren't worth the reading time.
I sincerely hope it's not a false push, with the view of a CR on the cards.
