TrademonOnly just looked in detail at Cygnets DCF. Funnily...

Trademon

Only just looked in detail at Cygnets DCF. Funnily enough I came up with almost exactly the same post tax NPV figure as them on the Cacata numbers.

My post tax NPV for Kanzi comes out at $576.2m (375MNB) assuming:

paramaters in scoping study
10% discount rate
corporate tax 30%
royalty 3% to Allamanda

So apply Cignets method of discounting NPV by 50% for country risk gives a value of 375/2 = $187.5m. Add on the 50m form Cacata gives 240m for both projects.

Shares on issue 135 + 6 (director options) + 22 (.14 raising) = 163m

value per share fully diluted $1.50