VUL had 50 mill lbs U in the SMM deposits last year. More was discovered since and I would suggest the total of that and other projects to be say 75 mil lbs today.
The Insitu value is 75 mill*US$46 based on A$=0.745 = $A4.63 bill. or based on 120 mill shares: $A38.59/share or based on market cap of 120 mill shares *$A1.3/share: $A29.70 per $A1 market cap.
Considering that the U price is rising, the current $A1.30 price is somewhat low, IMHO.
The NPV ought to be significantly higher, according to a research analyst, it was $3.65/share for SMM which has 188 mill shares but was based on a permanent U price of US$40 while in fact it is rising and must be US46 by now.
However, assuming we do take the very conservative number of $3.65 for SMM, the NPV for VUL would be approx. 188/120*0.5*3.65=$A2.86 (SMM has twice as much U), assuming the Qland deposits could be mined.
That would be a rough estimate increasing with time.
Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.
Subject to audit,
Gerry
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$3.83 |
Change
-0.080(2.05%) |
Mkt cap ! $720.7M |
Open | High | Low | Value | Volume |
$3.89 | $3.90 | $3.71 | $1.014M | 266.4K |
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No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
---|---|---|
$3.83 | 1429 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 1377 | 3.800 |
1 | 1035 | 3.790 |
1 | 1035 | 3.780 |
1 | 1035 | 3.770 |
2 | 1633 | 3.750 |
Price($) | Vol. | No. |
---|---|---|
3.830 | 1429 | 2 |
3.840 | 4770 | 1 |
3.850 | 1000 | 1 |
3.870 | 4380 | 1 |
3.890 | 1670 | 1 |
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