RE: 2021 Earnings1 Jul 2021 14:32
Mogli- I wouldn’t disagree with your Chrome and copper figures as we have very little to go on, but my gut reaction is around your stated figures, hopefully a tad more. I am basing my PGM figure on production of 5,800 oz per month, last known Dec figures. That gives 34,800 oz at 3,100 per Oz after production costs gives $107,880,000. Allow 15% for smelting leaves $91,698,000. Using a conversion rate of say 1.38 gives £66,447,826. Add on first half of £28,500,009 gives £94,947,826. Hopefully the chrome and copper come in higher and there was no real interruption at Inyoni. I’m presuming we would have been advised if there was any substantial interruption at Inyoni. I am hopeful net profit will break £70M at a PE rate of say 12 gives roughly double the current share price. A PE rate of 15 would be very nice. We will have a damn good idea very soon!