AGY 1.08% 9.2¢ argosy minerals limited

General Discussion AGY, page-489

  1. 770 Posts.
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    Rightio mongas, time to get some Warren Buffet style analysis up in this party.

    Lets focus on the revised JORC endeavours shall we?

    i've always mention our low stock price could be a reflection on resource size, so lets analyse what difference a revised JORC could make on our valuation.

    Current JORC - 245,120 tonnes, with a 16.5 year life @ 10,000 tpa (which means they consider the mine not worth it after 67.3% of its resource is gone)

    Current spot prices for lithium are $17,600 AUD

    taking into account 10% profit to puma and 25% to tax, 1.25b shares on issue, and assuming the 10,000 planet capex of $150m be raised at 30c per share + finance costs = roughly 1.85b shares on issue.

    @$17,600 sales price = $1.655b Net Present Value. / 1.85b shares on issue = 89.4c NPV
    @22,000 sales price (future forecast minimum) = $2.068b NPV / 1.85b shares = $1.12 NPV

    If we actually had a revised JORC of 507,000 - 724,000 tonnes which Jerko is aiming for it would make the following changes to NPV (assuming 67.3% life of mine):

    @17,600 sales price w/ 507,000 T = $2.90b NPV / 1.85b shares = $1.57 NPV
    @22,000 w/ 507,000 T = $3.64b NPV / 1.85b shares = $1.97 NPV

    @17,600 sales price w/ 724,000 T = $3.67b NPV / 1.85b shares = $1.99 NPV
    @22,000 w/ 724,000 T = $4.59b NPV / 1.85b shares = $2.48 NPV

    This does not take into account the future prospects of the Tonopah project.

    As you can see JORC makes a big difference.

    Cheers.
 
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