A quick comparison of 2 near term developers VXR vs MOD.
VXR - Western Australia - safe in our backyard
NPV $338M
Market Cap $48M
IRR: 52%
Payback: 1.6 years
MOD - Botswana - ???
NPV $370M
Market Cap $115M
IRR 39%
Payback: 2.7 years
Simple peer comparison reveals that VXR market cap should be around $105M or 45 cents a share. The board is correct to set a 45 cents price target at this juncture.
Delivery of an even more positive BFS and more certainty around finance should see us to 45 cents a share. Only a matter of time before the market wakes up and takes note. All in my opinion.
A quick comparison of 2 near term developers VXR vs MOD. VXR -...
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