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I seem to recall that a year or so back someone valued West Kytlim at 21p per share.
I think we will be left with that either on our own or jointly with someone else.
The rest, being substantially more worth than WK will be sold. Some of the money will be used to develop WK further, the balance to shareholders.
With potentially over 100m ounces to sell I'm expecting the dividend to be over £1.
There's a maximum dilution of shares worth £250k at a nominal value of 0.1p per share, so that's 250,000,000 million shares (250,000 ÷ 0.1).
I can't recall how many shares are out there at the moment but let's say 3 billion. 250m more is 8.3% more.
3b x current price 28p = £840m
840bn ÷ 3.25b = new shares price 25.8p.
Not much of a dilution.
But the company will get 250m x rights share price, say 20p = £50m.
I'm one of those that bought in at 0.6p but that was in 2016!
I sold enough to get my money back in January 2020. I'm still here but out of pure greed!
I'm looking for a life/retirement changing amount and anything over £1 does that. I don't really care what the current share price is. There seems to be obvious manipulation tinged with the no one having a clue on value and final selling price. I don't mind waiting even longer.
I first bought on the 12th Oct 2016, hoping for a small gain from 0.8p and then again on 15th Feb 2017 when it went down to 0.54p.
It only got exciting from Nov 2019 and then got to taking-too-much-of-my-time-reading-this-BB from July 2020. Feeling exhausted from doing nothing except read!
It's good to see that Blackrock are still increasing their stake.
A further 341k reported yesterday, 214k on Friday. A little bit almost everyday.
On 1st Dec they had 32,367,677,
on 4th Jan 33,764,368,
on 1st Feb 35 056,040 and
on 1st Mar 36,474,406.
That's from 1.18% to 1.32% of total company. The daily number has picked up in the last 2 days by 3 to 5 times average amount.
I like to see how people calculate their share price rather than put down what looks like random figures.
There have been plenty of calculations done on here in the past and my thoughts are based upon them.
With what could be over $100bn resource in the ground, dug up over 20 years, that's $5bn a year. I think 1 years revenue would be enough to secure it. With 3bn shares that's $1.67/£1.20.
55p a share is only £1.65bn. Doesn't seem anywhere near right to me.
Even £3bn is cheap at £1 per share.
I seem to recall about 5/6 months ago that Rowka calculated that there was about $135bn worth of metal in the ground.
I can neither find that post ( far too many on here) or find anywhere that said how many oz or kg there was supposed to be in the ground.
Any ideas where I can find them please?
And Ian, after much detailed thought and consideration, I've pinned the tail on the donkey and will go for £1.43 please.
£5.71 makes me a millionaire but thats a super-Rowka valuation and a 70p gets me a typical AIM-to-disappoint windfall, so somewhere in between gets me the greedy amount. Cheers.