Gina made a profit of $5 billion last financial year, mainly from her Roy Hill iron ore mine (75% ownership), she had $19.9 billion cash as at 30 June 2023. She has piles of cash, far enough to buy and fund a couple of world class lithium projects.
Here's the post I wrote three days ago,
SQM and Gina are currently buying 60% of the Andover project (around 5 years away from the production) for $1.7B, valuing the whole project at $2.8B.
LTR, currently market cap $2.2B, including spending $1B to develop and build the mine, if less the $1B development costs/capex, LTR is currently valued at $1.5B (added back $300m debt).
So more advantage stage LTR is only valued at $1.5B Vs early stage Andover at $2.8B.
Let's look forward, current LTR cash reserve is sufficient to complete the construction, valuation to construction completion is $2.5B; 100% of the Andover project is valued at $2.8B before construction, adds $1B capex, valuation to construction completion is $3.8B;
LTR $2.5B Vs Andover $3.8B.
More advanced, few years ahead, but valuation is 52% less.
https://hotcopper.com.au/posts/72089902/single
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80.5¢ |
Change
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Mkt cap ! $1.952B |
Open | High | Low | Value | Volume |
77.5¢ | 82.0¢ | 74.5¢ | $12.97M | 16.44M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 101850 | 80.5¢ |
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Price($) | Vol. | No. |
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81.0¢ | 80175 | 4 |
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No. | Vol. | Price($) |
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6 | 101850 | 0.805 |
15 | 215152 | 0.800 |
6 | 294366 | 0.795 |
10 | 191186 | 0.790 |
3 | 78273 | 0.785 |
Price($) | Vol. | No. |
---|---|---|
0.810 | 80175 | 4 |
0.815 | 153453 | 9 |
0.820 | 215182 | 9 |
0.825 | 268605 | 10 |
0.830 | 159369 | 12 |
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