what's this thing worth? Hmm been reading up on a few books on valuations and stuff.... here's what I think
1 mil oz resource
assume that's how much they take into development. they may find more ozs but won't have a 100% conversion rate so lets just say 1mil.
1mil oz, say at a cash cost of 250/oz. sale price 450/oz.
net margin = 200/oz. assume capital costs + interest + depreciate + amortisation of 60m. so net worth is 140m. discount that at 15% over 13 years (assume mine life of 10 years, 100z/annum process rate and 3 years to first gold mined) and the 140m becomes US$22.7m NPV. or about 30m australian.
market cap is 65m right now so i must've got something wrong/missed something. anyone done some npv calcs with ADU and care to share?
moving, page-3
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