Inlight of the upcoming potential Nasdaq listing, I thought I would listen theStefs recent interview with from the Ghostmail Ghost Stories segment, linkbelow
GhostStories #6: Say Hello to Helium (Stefano Marani, CEO of Renergen) - Ghost Mail
Apartfrom being an excellent interview, there was one segment that really got myattention from the 41:20 minute mark1.The DFC has somesay in where the Helium goes
2.The CEF (CentralEnergy Fund) are still working through their processes for a 10% stake atapproximately AUD $6.50/ share
3.Lowest EBITDAtransition company listed on Nasdaq was at a 3.8 times forward EBITDA multiple.At current prices, Renergen`s EBITDA is at 0.4 times forward multiple. Thatwould be a fraction of the lowest IPO undertaken in a terrible year..
4.There are other multipleSth African companies have also taken a similar path to a Nasdaq listing in thealternative energy space with incredible forward EBITDA multiples, Stefmentioned one with a 27 Forward EBITDA multiple (with similar LNG output, minusthe Helium) , we are currently trading at 0.4 Forward EBITDA multiple
Asa result of the above, I thought I would research other Alternative FuelsEnergy Companies that are duel listed on both the JSE and the Nasdaq.Istumbled across a company called Montauk, which I feel may be the companyreferenced during Stefs most recent interview.
Company | Montauk Renewables(montaukenergy.com)“Teaming with landfill owners to produce renewable energy from landfill methane for more than 30 years
Aquick comparison of both companies provides details as below:
Resource
Renergen
Montauk
1 LNG (GJ)
34,400 GJ
34,000 GJ
2 Helium (tonnes per day)
Yes
No
3 Primary Exchange
JSE
Nasdaq
4 EBITDA (USD)
USD $330 Million
USD $27.40 Million
5 Market Cap (USD)
$164.29 Million
$1.45 Bn
All Montauk financialsavailable from link below
MNTK10.08 -0.2 -1.95% : Montauk Renewables Inc - MSN Money
So my question is, assuming Renergen lists on the Nasdaq, what would be a fair and comparative Market Cap when compared to Montauk…it has to be multiples of current SP/ Market Cap..
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$1.06 |
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Mkt cap ! $32.14M | |||
| Open | High | Low | Value | Volume |
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