to add: AJM current has 1.24 billion shares on issue
it must also raise money for CAPEX; say 35% equity; thus may have 1.5 billion shares on issue eventually
$850M life of mine cash-flow - DISCOUNTED - is not worth 1.5B x 40 cents = $600M
40 cents invested today to earn 4.72 cents EPS pa over 13 years has a NPV10 of -6.5 cents, NPV8 of -2.7 cents & NPV6.75 of 0
Telstra pays a dividend of at least 6.75%. Am i safer investing my 40 cents today in TLS rather than AJM?
However, if i invest 20 cents into AJM, the NPV6.75 = 20 cents. so at least i make 20 cents on my 20 cent investment
While i don't know much about NPV, it seems AJM is not worth 40 cents per the broker report quoted which is why it current share price is about 16 cents
/
Also GXY did not make 1 cent of profit mining lithium so it is doubtful the OPEX of these new lithium companies in their BFSs will be met
Next Revaluation, page-28
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