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20.0¢ firefinch limited

That's my hope too.yee

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Purplemagic

195 Posts.

6

25/05/22

17:54

Post #: 61619950
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Originally posted by nicwix: ↑

Just finished my applications for Leo shares at 70c… in addition to taking up my full entitlement, I’ve put in another ~12% for the shortfall… rounded to nearest 2,000. I assume the full offer will be taken up, raising $100m.

I believe Firefinch will trade ex-demerger next Friday 3 June, hopefully holds above 40c. Leo is scheduled to commence trading on 16th June, at which point we will see what our combined holdings are worth.

According to my calcs, if Leo shares trade at $1.00, then its market cap will be $1.2bn and Firefinch’s 20% holding will be worth $240m or 20c per share. Add another 8c for Firefinch’s cash and if FFX trades at 40c, it will have a market cap of $470m and an EV of about $140m, which is very undemanding - only 12c per share.

If Leo trades at only 80c, then Morila would need to be worth $190m or 16c per share to justify a 40c share price.

Hopefully Leo does list upwards of $1 and Morila holds above say 50c… we’ll be laughing!

Please check my calcs people!

Cheers

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That's my hope too.
yee

FFX Price at posting: 94.0¢ Sentiment: Buy Disclosure: Held
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