This is getting silly - but market does what market does...
Here is how I see it at these prices when taking a conservative and mitigating approach to valuation.
Some food for thought/debate anyway...
Cash vs. MAK Hypothetical
MAK 2008 non-producer
Fully/D M'Cap = $128,000,000
Cash in Bank 2008-2011
(9%pa * $128,000,000) * 3 = $34,560,000
27% ROI
MAK 2008 to 2011 production
1.5MT pa production
$200 p/ton Phosphate
$300,000,000 revenues
$200,000,000 costs (OPEX + CAPEX Debt payments )
$100,000,000 Margin
$80,000,000 Profit ( minus Royalties )
--------------------------------------------
$56,000,000 Free Cash Flow ( minus TAX )
$28,000,000 Distribution (50% Cash Flow)
21%pa Dividend (Of $128,000,000)
$800,000,000 Fully/D M'Cap (PE 8, SP $7.20)
-------------------------------------------
2008-2011 ROI
$7.20 / $1.15 = 6.26 (626%)
626% / 3yrs = 208% YoY
-------------------------------------------
Summary 2008-2011
Cash Return On Capital
(9%pa * $128,000,000) * 3 = $34,560,000
9% YoY Return
27% Total ROI
MAK Share price and Dividend
SP $7.20
PE 8
EPS 50c
Div 25c (3.5%)
MAK Return On Capital
208% YoY Return (3yrs)
626% Total ROI
21% YoY Dividend (Starting 2011)
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Change
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Mkt cap ! $24.33M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 5311715 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.0¢ | 504157 | 4 |
View Market Depth
No. | Vol. | Price($) |
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5 | 5311715 | 0.009 |
6 | 644999 | 0.008 |
4 | 1442142 | 0.007 |
10 | 20683328 | 0.006 |
2 | 1500001 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.010 | 504157 | 4 |
0.011 | 367553 | 2 |
0.012 | 1697294 | 8 |
0.013 | 860857 | 3 |
0.014 | 1210000 | 3 |
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