Think about a 30% project partner.
Putting aside how you price that, selling 30% of project also means BKT only needs 70% of CAPEX, USD158m. if you can maintain USD110m from the banks, BKT short of CAPEX share is USD48m or ~ AUD70m.
AUD70m for 30% of project implies a $233m Market Cap or 18c share price. Importantly it's valuing it a 10% of NPV.....I think once the debt is confirmed, it's game on for SP.
that's the ultimate outcome as you don't need POSCO and as no ECM dilution, value per share ($ of NPV per share) is superior than issuing 50% equity funding of entire project.
BKT, page-1035
Add BKT (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
6.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $81.33M | |||
| Open | High | Low | Value | Volume |
| 6.6¢ | 6.6¢ | 6.5¢ | $39.03K | 598.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 470351 | 6.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.6¢ | 192949 | 1 |
View Market Depth
| Last trade - 15.46pm 29/04/2024 (20 minute delay) ? |
|
|||||
|
Last
6.5¢ |
Change
0.000 ( 1.52 %) |
||||
| Open | High | Low | Volume | ||
| 6.5¢ | 6.6¢ | 6.5¢ | 89530 | ||
| Last updated 15.46pm 29/04/2024 ? | |||||
| BKT (ASX) Chart |