@Gratton44
totally legitimate criticism.
but as i said the other day you have to parse the difference between cashflow vs nta then decide whether stock is fair value, cheap or expensive
i dont think there is any doubt that it was a gyppo ipo - big overpromise on cashflow and the readthrough on mgt quality to me is cowboy to this point in time
against that though you've got
- mill that would cost ~$120M to build new today I;d say
- ~38Mt low grade silver stockpile of 52Moz - which unless its degraded significantly from weathering - should be worth at least what ARD/SVL's in ground value is
those 2 projects carry an implied value of ~$1.85 EV / Silver resource ounce currently
So = $96.2M mark-to-market value for the silver stockpile (and good condition stockpiles should really be worth much more than unmined resources)
So the mark-to-market NTA of the stock is notionally $210M + Mt Boppy + any other asset values.
At 51c sp MKR EV (inclusive of debt) = $166m
So basically stock is trading at ~ 40%+ discount to NTA
i think you'll find that others will follow this line of thinking - largely disregard the short term mt boppy gold revenue outcomes absent major over/undershsoot March qtr - and focus on ~750,000koz silver production second half rising to say ~1.5Moz next year
And obviously if mgt starts to get its act together then their actually 900kozpa/2Mozpa silver forecasts will start to get re-priced in
and then you;ve got some wonowinta deeps exploration upside when the actual assays come back
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- MKR: The Best Silver/Gold Play on the ASX.
MKR: The Best Silver/Gold Play on the ASX., page-162
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Last
2.9¢ |
Change
-0.003(9.38%) |
Mkt cap ! $22.61M |
Open | High | Low | Value | Volume |
3.2¢ | 3.2¢ | 2.9¢ | $19.80K | 676.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 77596 | 2.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.0¢ | 88216 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 77596 | 0.028 |
2 | 258200 | 0.027 |
5 | 165000 | 0.026 |
2 | 118000 | 0.025 |
1 | 43521 | 0.023 |
Price($) | Vol. | No. |
---|---|---|
0.030 | 88216 | 1 |
0.031 | 18926 | 1 |
0.032 | 192508 | 2 |
0.033 | 910 | 1 |
0.035 | 502445 | 4 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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