1,312,733,155 shares on issue $41.00 oz silver price, take out $14.00oz to mine = $27.00oz 15mil oz resource
15mil oz x $27.00 = $405,000,000 405mil div x 1,312,733,155 shares on issue = SP .30
Is that correct? End Quote:
Yes, correct....what you are forgetting is that at 2M oz production per annum it will take 7.5 years to earn that 30c per share. That's 4c per share EBIT....after tax (40%) the eps is actually 2.4c per annum. Apply a P/E of 7 given current minelife and AYN is already almost fully valued.
the M/Cap is already 182M with a P/E of over 6 and they haven't delivered any earnings yet.
BSM, by comparison is also a silver producer (plus other metals) and is projected to earn similar money ($50M EBIT) to AYN once their current ramp-up is complete. And they are sitting on about 43M oz of silver already.....at twice the grade to AYN. M/Cap is $80M
Shares on issue: 200M
AYN Price at posting:
8.6¢ Sentiment: None Disclosure: Not Held
