spent a bit more time on this one....
net cash as per sept quarterly report is 51.4m, after recent fall marekt cap is 95m.
the npv of berau (indo coal) is USD$100m based on a disc to spot prices, and 3m tonnes prodn and only a 7 year mine life, on my numbers. last i heard the company was hoping to purchase an adjacent property which could take this to 6m.
the current share price values this asset and the peruvian iron ore asset at less than A$45m! the major holders are not in the stock for its coal. they are there for the iron ore which is apparently very high quality. with the bdiy +6% again last night and the other iron ore juniors ripping, along with spot prices, the next round of contract prices will come in substantially higher (that's what rio at 70+) is telling us. i have no idea how to value the iron ore assets of strike, but they must be worth more than 0!!
if this thing drifts back to anything close to cash (and its not far off now) it will get bought out by the russian investors who have 20%, or the chinese. it's one of the cheapest situations i have ever seen, but like all these juniors it needs newsflow to kick start it. lets hope the agm next week delivers something to get it going!
spent a bit more time on this one....net cash as per sept...
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Last
3.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $9.931M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 24670 | 3.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.4¢ | 4161 | 1 |
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| Last trade - 08.15am 30/09/2024 (20 minute delay) ? |
| SRK (ASX) Chart |
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