BAT valuations, page-8

I've had a go at using the numbers from the PFS/DFS in a basic financial model that as much as possible tries to reuse the key assumptions.

This is how the numbers look so it is easier to see where the profitability lies. The highlighted concentrate is the product shipped to the US for converting to PSG.

On my calculations PSG net income ( AUD $34.6M) accounts for about 50% of the total net income ( AUD $69.1M) for the consolidated project.

BAT won't reach consolidated payback for 3 years, however I've assumed a 25% payout ratio to workout dividend per share at different dividend yields.

DYOR