Dear fellow shareholders,
Do not post often so excuse me, I am sure the subject matter experts on these forums will shoot holes in this assessment, and you are welcome to fill in the blanks and missing information such as debt, performance shares, etc, etc. I have reasonable knowledge and experience on financial ratios/valuations/assessment, however this is my first foray into EV analysis and is an attempt to calculate 'potential' EV of GMC so once again apologise if I have missed something.
The table below is self-explanatory, and assuming the information presented is correct, the potential share price is $0.081 (or 118% increase from current $0.037). Let's say, applying ~ 18% adjustment for anomalies in what I have presented below, we are looking at potential share price of $0.075. Further de-risking, smelter shipment, site prep completion, and additional investment by Pak Marten will obviously increase the EV of GMC.
Good luck to all existing and new holders. All IMO, please DYOR.
|
Column 1 |
Column 2 |
Column 3 |
| 1 |
GMC - Equity Value, Enterprise Value, and Financial Data: |
|
|
| 2 |
Description |
Unit |
Value |
| 3 |
|
|
|
| 4 |
GMC Market Cap |
$M |
49.00 |
| 5 |
|
$M |
|
| 6 |
Less: Cash & Cash-Equivalents: (from Qtrly) |
$M |
(0.89) |
| 7 |
Less: Other Liquid Investments & Cash-Like Items: |
$M |
0.00 |
| 8 |
Less: Equity Investments: |
$M |
(13.33) |
| 9 |
Less: Other Non-Core Assets, Net: |
$M |
0.00 |
| 10 |
Less: Value of Net Operating Losses (NOLs): |
$M |
0.00 |
| 11 |
Plus: Total Debt: |
$M |
0.00 |
| 12 |
Plus: Preferred Stock: |
$M |
0.00 |
| 13 |
Plus: Noncontrolling Interests: |
$M |
0.00 |
| 14 |
Plus: Unfunded Pension Obligations: |
$M |
|
| 15 |
Plus: Capital Leases: |
$M |
0.00 |
| 16 |
Plus: Restructuring & Legal Liabilities: |
$M |
|
| 17 |
GMC Enterprise Value - current prior to Cornerstone Investment (Sum of the above): |
$M |
34.77 |
| 18 |
PT Gulf EV @ 10% |
$M |
13.33 |
| 19 |
Costs & Discount 20% (incl equity value adjustment) |
$M |
(2.67) |
| 20 |
Net EV of PT Gulf @ 10% |
$M |
10.67 |
| 21 |
Net EV of PT Gulf @ 90% |
$M |
106.67 |
| 22 |
Potential GMC Share Price (MC $49M/$0.037 price @ 6/12/16) |
$/share |
0.081 |
| 23 |
Share Price on 06/12/16 |
$/share |
0.037 |
| 24 |
% Potential increase |
% |
118% |
