Initial mining study on Jabal Sayid (50% JV) plans for: 2 to 3 Mtpa, Producing 45kT to 60kT pa copper (99m - 132m lbs) Copper @ $8500 tn, Opex 0.96c lb = $95m - $126m, Income $382 - 510m less opex = $287 - $384m CGG share $144 - 192m pa.
Tax?
Capex $300m, Is the JV funding any of this?
MC about $385m fully diluted.
Assume capex is half debt and equity perhaps, so dilute $150m, MC to $535m add in costs up to production ($5m a quarter) incl current BFS $60m ish through another raising, MC dilutes to about $600m.
Cash in the bank after raising??
Pretty broad but just on Jabal Sayid income of $150- 200m pa, smack a pe of 10 on it and it might be worth about $1.5b - $2b MC. Current forcasted pluck MC of $600m. So, looks cheapish.
CGG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
