CCM

3.85%

5.0¢ cadoux limited

Independent Investment Research Report, page-14

First 14 Last

Share
Profile

Follow
stones1

55 Posts.

14

11/12/20

10:38

Post #: 49505951
Share

Originally posted by Tcb007: ↑

Great to have our first research report out, thanks for posting @Lawuki.

Now, I'll get straight to the point - it's rubbish. This could have been initiated 6-12 months ago when we were at 5c if they are just going to base their valuation on 1.5x EBITDA - which is ludicrous. The .57c share price assumes 545m shares on issue (and a CR at 50c) which gives us a valuation of AUD$310m which is 1.5x EBITDA. I'll take the $310m market cap once Alcoa commits and we have an offtake

They have also used HPA price of USD$24,000/t, however these guys initiated coverage for ATC last year and used a LOM HPA price of USD$32,500/t - WTF? (see below). If they think ATC's base case of USD$26,900 is conservative, then what do they think of FYI's USD24,000/t is?

View attachment 2731753

ATC coverage
View attachment 2731751

These reports are still referencing peer production from 2014 - pleeeeeeease, how embarrassing!
View attachment 2731771

When they initiated coverage for ATC last year, they used a global average EV/EBITDA of x10 (see below)
View attachment 2731780

FYI coverage they quoted EBITDA range of 5x to 8x
View attachment 2731787

Also, the .57c valuation includes an additional $50m buffer for working capital which they did not include in their ATC valuation at all. Strange eh?
View attachment 2731790

Anyway, great to have our first coverage, just cast your minds back a few months ago when we were at $12m market cap and our first research reports gives a $310m market cap target.

Lots to play out in the coming weeks and months which none has been mentioned in the report. Giddy up!

Expand

Hi Tcb
This is not the first report.
Beer & Co also prepared a report for FYI dated 3.12.20.
I'm sure if you contacted FYI they would make the report available. It's very good reading!

MJ

FYI Price at posting: 23.5¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

Reply

Top Stories

3DP

Pointerra wins US$1.63M from US Dept of Energy to model climate change scenarios

AVA

Ava Risk Group expands US presence with A$0.7M Substation Deal

SVL

Silver Mines models five new calderas close to 396Moz Bowdens deposit

LRV

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

LU7

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

CMX

ChemX Materials kicks off first stage works at WA high purity alumina pilot

RCE

Recce's R327 found effective against E.coli during clinical trial

Microcap Wrap: 5 explorers with news out today

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

There are more pages in this discussion • 48 more messages in this thread...

First 14 Last

Add CCM (ASX) to my watchlist

(20min delay)
Last 5.0¢		Change -0.002(3.85%)		Mkt cap ! $18.54M

Open	High	Low	Value	Volume
5.1¢	5.7¢	5.0¢	$19.86K	384.5K

Buyers (Bids)

No.	Vol.	Price($)
2	23826	5.0¢

Sellers (Offers)

Price($)	Vol.	No.
5.7¢	9453	1

View Market Depth

No.	Vol.	Price($)
2	23826	0.050
1	200000	0.049
1	74140	0.041
1	75000	0.040
1	75000	0.030

Price($)	Vol.	No.
0.057	9453	1
0.060	25592	1
0.066	18672	1
0.067	25886	1
0.068	10000	1

Last trade - 14.28pm 28/06/2024 (20 minute delay)

CCM (ASX) Chart

Independent Investment Research Report, page-14

Pointerra wins US$1.63M from US Dept of Energy to model climate change scenarios

Ava Risk Group expands US presence with A$0.7M Substation Deal

Silver Mines models five new calderas close to 396Moz Bowdens deposit

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Recce's R327 found effective against E.coli during clinical trial

Microcap Wrap: 5 explorers with news out today

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Independent Investment Research Report, page-14

Top Stories

Pointerra wins US$1.63M from US Dept of Energy to model climate change scenarios

Ava Risk Group expands US presence with A$0.7M Substation Deal

Silver Mines models five new calderas close to 396Moz Bowdens deposit

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Recce's R327 found effective against E.coli during clinical trial

Microcap Wrap: 5 explorers with news out today

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News