If solar comes off, U will be next to irrelevant to the SLX valuation. Having said that, I have allowed myself the luxury of calculating likely dividends if U comes off, along these rough lines.
1 SWU = US$120.
12% royalty
US$14.4 royalty/SWU.
1M SWU = US$14.4M
= roughly US$0.10/share p.a.
Assume US$1 = A$1
=A$0.10 EPS
Tax = 30%.
Earnings = 7 cps/1M SWU.
Divi = 70% = 5 cps/1M SWU (rem, no 'stay in business' cost for a royalty, so payout can be higher, potentially near 100%)
6M SWU by 2015-16.
= 30 cps and rising (in today's $)
For me, that will be enough.
If solar comes off, U will be next to irrelevant to the SLX...
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$3.41 |
Change
-0.010(0.29%) |
Mkt cap ! $808.9M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5475 | $3.41 |
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| Price($) | Vol. | No. |
|---|---|---|
| $3.43 | 487 | 1 |
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