Back of envelope PFS?
Resource:
Open cut pit 500m x 500m with ore body 12m thick = 3m cubic meters.
SG of ore @ 3.5 x 3m = 10.5mt
Grade = 2%
Ferro Nb (65%) = 210,000 tons
Mine life = 10 years @ 21,000 tpa
Price $40,000 = $840m
Costs (assume $20,000 per ton Nb) = $420m
Cashflow = $420m pa
Tax @30% = $126M
Net Profit = $294m pa
Capex (assume $250m, debt funded)
Future EPS (Assume 60m SOI including anticipated CR) = $4.90
PE ratio of 4 x EPS = $19.60 future SP
PE ratio of 8 x EPS = $39.20 future SP
The above calculations are realistic and conservative on known information, a lot could go wrong however, it is probable that as and if a larger resource is defined my figures may be extremely conservative.
A takeover target is probably on the cards!
All conjecture but makes me feel very positive.
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