Ann: Managing Director Company Update, 121 Conference Cape Town, page-35

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bobadah

6,275 Posts.

243

07/02/19

16:35

Post #: 37366271

Originally posted by Bollingenuity ↑

Originally posted by SuperTNT
My calcs - DYOR

Column 1 Column 2

0 Pre-production CAPEX $ 850,000,000

1 Debt $ 600,000,000

2 Equity $ 250,000,000

3

4 Share issue price $ 0.10

5 Shares issued 2,500,000,000

6

7 Current shares issued 963,000,000

8

9 Total shares issued 3,463,000,000

10

11 NPV $ 4,700,000,000

12

13 Share price $ 1.36

The debt mandate was for $600m USD = $845m AUD. Plus the $16m in cash = $861m. This more than covers the entire pre-production capex ($853m) which includes contingency funding. Surely they don't need to place another 2.5B shares - perhaps a much smaller equity component for working capital would suffice?

Expand

The handout to Vimson at such a big discount really has placed us in a bad position - other equity providers will expect the same or better. Extremely poor management (in terms of value for shareholders) in my view.

TNG Price at posting: 10.5¢ Sentiment: Hold Disclosure: Held

7 Upvote

1 Great analysis

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	Column 1	Column 2
0	Pre-production CAPEX	$ 850,000,000
1	Debt	$ 600,000,000
2	Equity	$ 250,000,000
3
4	Share issue price	$ 0.10
5	Shares issued	2,500,000,000
6
7	Current shares issued	963,000,000
8
9	Total shares issued	3,463,000,000
10
11	NPV	$ 4,700,000,000
12
13	Share price	$ 1.36

Ann: Managing Director Company Update, 121 Conference Cape Town, page-35

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