Just updating simple calculations from earlier based on the POSCO sale which means GXY can now operate without a partner to share EBITDA with. Capital to complete SDV sufficient after adding another year of Mt Cattlin cash flow.
Using 13 x EV/EBITDA, updated DFS numbers when producing at 25ktpa (40years), EBITDA at USD270mio per year, the target market cap is circa AUD4697 mio
Thus target price (excluding Mt Cattlin and James Bay) is A$11.18
|
Column 1 |
Column 2 |
Column 3 |
| 1 |
SDV at 25ktpa |
|
|
| 2 |
EV/EBITDA |
13 |
|
| 3 |
EBITDA USD (m) |
270 |
updated DFS |
| 4 |
Partner not needed |
270 |
|
| 5 |
EBITDA AUD (m) |
355.26 |
|
| 6 |
Enterprise Value AUD (m) |
4618.42 |
|
| 7 |
Target Market Cap AUD (m) |
4697.37 |
adding back cash and deduct debt (none at this point) |
| 8 |
Target Price per share attributable to SDV |
11.18 |
|
As usual, not to be taken as any from of investment advice. Just simple calculations based on the numbers given.
DYOR Cheers!
Tuna
hopefully it will get there in couple of years
