Latest Hartley's Research Report is available on the BAT website:
https://www.batteryminerals.com/wp-content/uploads/2019/03/Hartleys-Research-28Feb2019.pdf
Their assumption is AUD $100M (USD $70M) is required with 50:50 debt to equity split. So that is AUD $50M (USD $35M) of equity on the Hartleys assumption. Need to wait to see what materialises with the actual funding package BAT achieve. I think it is unlikely BAT would attempt to raise AUD $50M at the outset of financing given our current market cap (unless of course they have already lined up a number of parties with deep pockets to contribute to the raise).
- 12 month target 5.6c
- 2021 target 11c ( once in full production )
Hartleys 2021 price target is based on a P/E of 11.0.
Video is also available. This was shown at Rising Resource Stars.
Hartleys Research Report - 12 month target 5.6c, 2021 for 11c
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