from march quarterly report:
Haddington expects the Underdale business to add approximately $15 million per annum to its revenue base and contribute approximately $5 million in EBITDA per annum.
Haddington is targeting annual revenue from its services businesses of $40 million, which we aim to achieve within the next 12 months through our expansion strategy.
Using the same margin as Underdale, we have $13 EBITDA, which equals 8.7 cents EPS EBITDA or 6.6 cents EPS before tax.
$5M in tax losses should mean no tax pyable for 2 years.
Last balance sheet shows $8M in net current assets or immediate liquity.
No need to raise capital.
$10M EBT per annum less $3M per annum exploration expenses leaves $7M free cash flow each year, which is around 4.6 cents EPS or 40 cents share value on EPS alone, excluding resource deposits.
Looks great!!!! BUY
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