it will NEVER see double digits.
That's a bold claim. In other words its market cap will never reach $300m...and that for a project with stated NPV of $760m and a capex requirement of $194m.
In the pre placement presentations by the CEO and the CFO I sought clarification on progress with the would-be debt providers.On this the CFO was most unconvincing. So, I turned to the incoming CEO to ask if some form of joint venture was on the board's agenda given that the market will not reward would- be developers of projects that require capex being a multiple of market cap. His response was more encouraging.
If the in-ground product is as attractive as the company makes out then I should thinks that industry participants could be tempted to front up with a $20m+ for a meaningful( if not controlling) equity in the project. Enough to fund the stage one $84m capex.
And it doesn't have to be industry participants to be the critical JV partner. A well managed campaign into European and US capital markets could attract a PE fund or venture fund.
The introduction of a JV partner does wonders for the project economics...but it would do more for the ADN share price.
Wouldn't it?
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Last
0.8¢ |
Change
0.001(14.3%) |
Mkt cap ! $27.14M |
Open | High | Low | Value | Volume |
0.8¢ | 0.8¢ | 0.8¢ | $92.03K | 11.89M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
76 | 31392304 | 0.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.8¢ | 12405563 | 17 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
76 | 31392304 | 0.007 |
58 | 23775989 | 0.006 |
26 | 15830122 | 0.005 |
7 | 8025000 | 0.004 |
6 | 18933334 | 0.003 |
Price($) | Vol. | No. |
---|---|---|
0.008 | 12405563 | 17 |
0.009 | 14753752 | 12 |
0.010 | 6582677 | 8 |
0.011 | 14396522 | 8 |
0.012 | 13445921 | 6 |
Last trade - 16.10pm 01/10/2024 (20 minute delay) ? |
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