Fair call... I hadn't factored the EFA... but by the same token, unless I've missed an update the EFA has only drawn down $3.5m not $5.2m.
So re-adjusting my figures... are we really valuing the entire business and the resource at $5.9m with a 2c valuation?
Given that the company is targeting 440,000 tonnes for CY2024. Their last shipments (excluding the discounted ones) averaged $402AUD per tonne and they're targeting an operating cost of $160-$180AUD/t at stage 1.5 (apologies... I'm on the road right now and couldn't find the stage 1 operating costs... only the DFS figure @$124/t which is unrealistically low now for me to use fairly in this discussion)... giving $220/t profit.
Now that seems a bit high (certainly above DFS figures) so lets halve it, and take off a bit more for mum and the kids and make it $100/t. That's still $44m per year profit. And thats before taking into account any of the benefits (and to be fair costs) from stage 1.5 and 2 and 3 up to 800,000tpa or potential resource upgrades. They could just forget about any upgrades (and associated capex) and just keep pulling in $44m/year.
Regardless... whichever way you cut it... fundamentally a 2c ($5.9million) valuation is ambitiously low despite what the TA says.
Cheers.
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Last
3.4¢ |
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0.000(0.00%) |
Mkt cap ! $29.14M |
Open | High | Low | Value | Volume |
3.4¢ | 3.6¢ | 3.4¢ | $16.64K | 483.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 61031 | 3.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.6¢ | 65000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 31031 | 0.034 |
1 | 250000 | 0.033 |
3 | 344000 | 0.032 |
1 | 32000 | 0.031 |
3 | 153333 | 0.030 |
Price($) | Vol. | No. |
---|---|---|
0.036 | 65000 | 1 |
0.038 | 50000 | 1 |
0.039 | 95000 | 1 |
0.040 | 100000 | 1 |
0.041 | 24414 | 1 |
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