NPAT for stage 1 is around $9m p.a.
Assume a 10x multiple (LOM for stage 1 is 100's of years) and you get a $90m val. If all debt funded this should trade at 7.8c. If converse and fully equity funded then it should trade at something like 3.4c. I would be looking for a base case something like 60/40 debt/equity and as such a valuation of something like 6c on stage 1 alone. Discount for risk that still applies to DFS, offtakes, actually getting the debt funding etc. But then add in a risked valuation for stage 2 etc.
IMO only this is still at least 100% undervalued for where they are currently, particularly remembering they have $6.5m in cash at current.
Ann: Strategic Partnership Agreement For Development Of Siviour, page-25
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add RNU (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
7.1¢ |
Change
-0.002(2.74%) |
Mkt cap ! $180.4M | |||
| Open | High | Low | Value | Volume |
| 7.4¢ | 7.4¢ | 7.0¢ | $289.4K | 4.041M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2160445 | 7.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 7.2¢ | 16154 | 1 |
View Market Depth
| Last trade - 16.10pm 04/11/2024 (20 minute delay) ? |
| RNU (ASX) Chart |