I see Wilson HTM have incorporated the value of NEC's projects into their NHC model.
They have the following valuations for NHC's share of NEC's projects
Maryborough - unrisked $465m, risked at 85% - $371m Elimatta - unrisked $122m, risked at 75% - $100m Yamala - unrisked $23m, risked at 60% - $15m Ashford - unrisked $8m, risked at 30% - $3m
So the 'risked valuation' of NHC's share of NEC totals $489m. NHC owns 81% of NEC so we can assume they are valuing 100% of NEC at around $600m. This amounts to around $4.50 per share
I expect a mop up bid from NHC at some stage so NEC is probably good value around $1.50 which is where I have bought a few after selling into the original takeover offer
NEC Price at posting:
$1.50 Sentiment: Buy Disclosure: Held
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