WAF 3.74% $1.53 west african resources limited

What am I missing here? Is the sovereign risk the key?$241...

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    What am I missing here? Is the sovereign risk the key?

    $241 profit + $86 (depreciation from Annual report) = $327 EBITDA give or take.

    This is therefore trading at an EV of 2.8x EBITDA??

    I know there is some funding facilities but assume this will fund assets anyway, not working capital.

 
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Last trade - 16.10pm 20/05/2024 (20 minute delay) ?
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