PPK Value, page-820

Okay so just in case some are not aware.

PPK Aust Pty Ltd holds 251,235,441 shares (39.24%) in Li-S Energy Limited (ASX: LIS) as of May 15, 2025, based on the October 31, 2024, substantial shareholder notice, following a 39,613,628-share distribution in October 2024

Top 20 Shareholders:

PPK Aust Pty Ltd (251,235,441 shares, 39.24%)

Investment Value:

• At 10c: $25,123,544
• At 11c: $27,635,899
• At 12c: $30,148,253

Every 1c is worth 2.5 million to PPK.

What about CIB. Well if we look at historical numbers and the growth they have achieved then at 39% ownership what would their MC be?

Craig International Ballistics based on $45 million in revenue and a 10-15% profit margin, as market cap depends on various factors, including valuation multiples, which differ by industry and market conditions. Craig International Ballistics is a private company, and no direct market cap data is available My possible calculations.

With a 10-15% profit margin and $45 million in revenue:

10% profit margin:Net Income = Revenue × Profit Margin = $45,000,000 × 0.10 = $4,500,000

15% profit margin:Net Income = $45,000,000 × 0.15 = $6,750,000

So, the net income ranges from $4.5 million to $6.75 million.

Market capitalization for private companies is hard but if we use Price-to-Earnings (P/E) ratio or Revenue Multiple. Since Craig International Ballistics operates in the defense and ballistics industry, we’ll consider multiples typical for this sector.

The P/E ratio varies by industry, but for defense and manufacturing companies, a typical P/E ratio ranges from 15 to 25, depending on growth prospects and market conditions. Let’s assume a conservative P/E range of 15 to 20.

For 10% profit margin ($4.5 million net income):Market Cap = Net Income × P/E RatioLow estimate: $4,500,000 × 15 = $67,500,000High estimate: $4,500,000 × 20 = $90,000,000

For 15% profit margin ($6.75 million net income):Low estimate: $6,750,000 × 15 = $101,250,000High estimate: $6,750,000 × 20 = $135,000,000

In 2022, CIB reported a 94% revenue increase and $2.7 million EBITDA for six months, suggesting strong growth. The $9.7 million military contract in 2023 further supports revenue growth. The $30 Million contract adds to this also. If the projected $45 million revenue, the company has likely scaled significantly since 2019, justifying a higher valuation today.

Based on $45 million in revenue and a 10-15% profit margin, Craig International Ballistics’ estimated market capitalization would likely be in the range of $70 million to $120 million, with a midpoint around $90–$100 million, assuming typical defense industry valuation multiples.

With PPK Group holding a 39% stake in Craig International Ballistics, based on $45 million in revenue and a 10-15% profit margin, their investment would be worth approximately $27.3 million to $46.8 million, with a midpoint around$37.05 million.

And finally the PPE investment.

At over 50% ownership I think we can say with the Whisp7 coming in and the government funding another 20 million MC so 10 million for PPK is plausible.

To say we are undervalued is an understatement. Just today PPK has added close to 7.5 million in value and we've seen 0% increase


PPK MARKET CAP $32 Mill lol!