Peer Aus EV/resource spodumene comparisons, page-49

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mistie

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09/10/17

16:08

Post #: 27767553
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Originally posted by mistie ↑

More Australian peer EV/Resource spodumene comparisons below after the recent peer re rates and again, just another value to the overall transparent light table to take into consideration, that’s all, nothing more nothing less, IMO.

AJM 6/10/2017
Mcap $451M @ 28c fps (1614M fps, ~$13M cash, $140M debt facility)
Pilgangoora Ind/Inf resource 39.2Mt @ 1.02% Li2O (Prob reserve 30.1Mt @ 1.04% Li2O)
AJM value per resource Li2O tonne (~400,000t contained Li2O) = ~$1,127t

PLS 6/10/2017
Mcap $1,119M @ 76.5c fps (1467M fps, ~$87M cash, $130M debt facility)
Pilgangoora Ind/Inf resource 156.3Mt @ 1.25% Li2O (Prob reserve 69.8Mt @ 1.26% Li2O)
PLS value per resource Li2O tonne (~1.95Mt contained Li2O) = ~$573t

KDR 6/10/2017
Mcap $345M @ 99c fps (349M fps, $3M cash, $106M funds for mine development + $40M cash
upon SQM deal being executed/conditions ticked, no debt)
Mt Holland Li (KDR 50%) Ind/Inf resource 128Mt @ 1.44% Li2O + Au (KDR 100%) Ind/Inf resource >1M ozs
KDR value per resource Li2O tonne (50% of ~1.84Mt contained Li2O) = ~$375t

Currently and on the above basis KDR is still undervalued, IMO. On a peer on peer Australian average EV value @ $850t Li2O = $782M mcap or $2.24 per share potential. Either some of the Australian peers are overvalued on a simplistic EV/resource tonne value or KDR is still a screaming buy.

Good luck to all the wannabee spodumene miners in the sector, exciting times ahead for all. Bye …

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“Either some of the Australian peers are overvalued on a simplistic EV/resource tonne value or KDR is still a screaming buy”.

One trading day later, up 12.5%. Jury out early and emphatically again, KDR was a screaming buy. $1.18 tomorrow or Wednesday, go you good thing … Bye …

………………………………………………………………………………………………………
The stock market remains an exceptionally efficient mechanism for the transfer of wealth from the impatient to the patient.
~ Warren Buffett
Big Tick

KDR Price at posting: $1.13 Sentiment: Buy Disclosure: Held
11 Upvote

0 Great analysis

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