TM1 1.72% 5.7¢ terra metals limited

NPV of $850m (per management) would imply $2.50+ per share (at...

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    NPV of $850m (per management) would imply $2.50+ per share (at “bottom of the cycle” prices too)

    Admit there is execution risk but 12 months out from production and fixed price contracts in place would suggest Macquarie are using quite conservative assumptions. Each to their own I guess. Management just need to get some runs on the board. While I don’t envisage $2.50 in 12 months time I think some of the other broker targets around $1.00 to $1.20 are more on the mark.
 
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