its $15M and this cashflow statement looks great. if they stopped all exploration activity, the actual exploration results generated over $11M cash flow alone. based upon an EBITDA multiple of 5 using the $40M profit, this one should be valued around 23cents. added to this the fact they have so much cash coming in the door as well as an effective hedging policy in place, this one is a no brainer right now (surely a bank cannot knock back this one with that much operating free cashflow).
after looking at the quarterly, might have to rejig my portfolio to take advantage of this one at this price.
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CUO
copperco limited
quarterly report out, page-12
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