Assuming the company can't pay dividends till 2018 (5 years), and based on a growth rate of 5% and minimal new business acquisitions then the potential cash on hand would be as follows:
Opening cash per AGM date 17m + 2013 cash flow 10m + 2014 cash 12m + 2015 cash 13m + 2016 cash 14m + 2017 cash 15m + 2018 cash 16m = 97m.
This figures are based on EBITA less say 30% to take into other cash items that will effect cash flow...conservative adjustment) to try and get this figure near cash flow.
Therefore based on this, the cash would represent about $1.14 per share in 2018. Assuming the market value the Business based on 1 x multiple which they appear to be doing for some strange reason (should be 7) then add another 25m to the value. Therefore $1.43.
Based on the current share price of 38 cents, then potentially over a six year period the share price will be 375% higher which equates to a return of 62% p.a.
Based on cash alone, assume the buisiness is worth nil this is a 300% increase. This equates to 50% return each year (eventually when things catch up).
All we need now is for the market to catch up....
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82.0¢

Assuming the company can't pay dividends till 2018 (5 years),...
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Last
82.0¢ |
Change
0.005(0.61%) |
Mkt cap ! $73.94M |
Open | High | Low | Value | Volume |
82.0¢ | 82.0¢ | 81.5¢ | $6.685K | 8.201K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 9605 | 81.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
82.0¢ | 3946 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 9605 | 0.815 |
3 | 16172 | 0.810 |
4 | 18805 | 0.800 |
1 | 350 | 0.790 |
1 | 3880 | 0.770 |
Price($) | Vol. | No. |
---|---|---|
0.820 | 3946 | 1 |
0.830 | 1834 | 1 |
0.845 | 6443 | 1 |
0.850 | 2000 | 1 |
0.880 | 34994 | 2 |
Last trade - 12.54pm 02/04/2025 (20 minute delay) ? |
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ADVANCE METALS LIMITED
Adam McKinnon, MD
Adam McKinnon
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