Yaqona et al....I'm interested in your thinking on how HGO will handle Kanmantoo from this point.
I'm thinking they will offer 49% of the project for about $80M which means HGO will need to kick in another $20M or thereabouts to get it going.
Their half share should generate about $40-$50M EBITDA pa
Take out the tax and EPS is about 7cps
Applying a reasonable EPS multiple this alone should see SP north of 60c and they should have capacity to pay a nice little dividend each year.
I could be miles out with my calcs so DYOR
AB
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