I think its time to think about where we might like to exit this stock or what its worth to you.
We know we have just about the highest quality natural flake graphite on earth and its at surface, easy to liberate and cheap to process and contains little or no deleterious elements. We are fairly sure we have 200m tons+ but a few holes in Marlin will confirm that continuity. We have a haul road directly through the project, infrastructure nearby and a short haul to port of Wyndham and proximity to Chinese buyers. Jurisdiction and mining friendliness could not be better with possibly the closest competitor for high quality flake graphite, Tanzania, now virtually uninvestable. Battery makers must now be getting very nervous about supply and we must be getting very near the top of that list.
So whats it worth once in production? Lets just assume PFS numbers. 88kt at $1k margin is obviously $88m at a 10PE is $880m market cap or about $3 a share fully diluted and fully debt funded. Worst case scenario somebody pays all the development cost for 50% of the company so about $1.50 a share. Current post tax NPV is about 70c.
I'd appreciate any input if I have things completely wrong here.
If somebody made a bid at 25c today would you leave? I can certainly wait 2 years to turn 10c into $1.50.
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Last
2.1¢ |
Change
-0.002(8.70%) |
Mkt cap ! $11.79M |
Open | High | Low | Value | Volume |
2.3¢ | 2.3¢ | 2.1¢ | $1.912K | 83.41K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 456427 | 2.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.4¢ | 50568 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 100000 | 0.024 |
2 | 386221 | 0.023 |
2 | 147000 | 0.022 |
5 | 1217500 | 0.020 |
2 | 54368 | 0.019 |
Price($) | Vol. | No. |
---|---|---|
0.025 | 498695 | 1 |
0.026 | 289259 | 4 |
0.027 | 396549 | 3 |
0.028 | 281127 | 2 |
0.029 | 50000 | 1 |
Last trade - 11.44am 28/11/2024 (20 minute delay) ? |
HXG (ASX) Chart |