The thing about this scenario is that it assumes we're in production, which we're not quite. It bases the EBITDA on fully diluted shares of 2.2bill, but that's not the right way to go about it...
If AVZ wanted to take it to production as per the example, based on those numbers and assuming overall capex is stated in USD at 650mill, AVZ's share of capex (60%) would be 520mill AUD at FX rate 0.75.
To raise that amount of capital at current price 0.265 would mean an issue of close to 1.962bill shares which would equal over 4.211bill shares on issue fully diluted.
The stated price targets of AUD 1.74 - 2.33 per share then becomes more like $0.93 - $1.24 AUD.
Just to keep things in perspective for people so that you don't get too carried away...
The thing about this scenario is that it assumes we're in...
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