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The share price in my view is completely dislocated from true funamental value. Drivers at the moment are uncertainty and negative sentiment, as opposed to valuation based on whats in the ground and potential future cash flow / value creation.
Shaun Day unfortunately has assembled a strong team who have proven to be ineffective. I am not sure what the BoD has actually contributed during his tenure so far.
We need clarity on Telfer and the construction / mine plan going forward.
I disagree re. NPV needing a discount. An NPV is by definition a discounted valuation at a certain hurdle rate. If a potential buyer has a lower hurdle rate, the NPV to them is in fact higher. This is specifically why in corporates strategics are typically able to pay more than sponsors given lower return requirements.
Hadrian, the reason the SP is where it is, is that price of spodumene has dropped 80% and the market has hit our share price accordingly.
Full price realisation will take time but I'm confident in Bernie and team. Big investors don't purely rely on public updates, they have much better access to management than we would. So this really is not that relevant.
I'd rather Bernie continue to take the measured approach. If we get inundated with RNS' then all of a sudden there is a quiet period, that would also cause investor concern.
You would I believe. The Board can recommend shareholders accept the vote, but would still need shareholder approval.
Brilliant presentation! Biggest point from me is the target 50% increase in resource by June! I would say to put such a big number out in the public domain with such a short timeframe, there must be a high degree of confidence in achieving that!
Time for our very expensively assembled BoD to actually pull their finger out. They are meant to be high experienced at this exact sort of sitiuation, so now is their time to prove it.
Whilst initial reaction will always be negative, should also factor in that we are now likely going to be acquired by / partnered with a smaller miner who Havieron is of greater importance to!
Size in this instance is less relevant. A Director purchase is more reflective of their optimism and confidence in the stock. It is a case of signalling. The actual purchase size isn't expected to impact actual pricing.
Don't think that is correct Laverda. We own the full 100m of cash on the basis that Hainan did not pay 100m to then give 50% back to themselves? Believe the cash is held in a different operating company from where the mining license / land is held.
Embarassing from Berenberg. Would like to know on what basis they can devalue a Target Price when there is an increased resource estimate with a higher gold price.
Would pay little notice to what they say, they are a 2nd tier equity research house and it is likely some fresh out of uni graduate who doesn't understand mining driving the analysis.
I would understand more if the NPV of the project wasn't a) much higher than our current market cap, and b) if the lithium price which underpinned the study was at spot...but its not. It was prudently set significantly below market.
This is such sloppy journalism, like how do these people have a job.
"The $100m acquisition of a 51% stake in the newly incorporated UK subsidiary holding the Bougouni lithium project naturally infers Kodal’s stake is worth a little under $100m."
By definiton, it meants Kodal itself is subsequently worht $200m but virture of retaining the 49% PLUS $100m cash.
Idiots.
And Devil your posts are laughable. All you do is compare the SP to the all time high, obviously it will be a loss for the people who bought at that price.
Why don't you compare it YTD, or L12, of L3Y and people will see a high positive SP increase.
You are just a fool.
Hadrian, you are so misinformed. It does not amount to "dilution" as you would call it on the basis that they were granted at a price when we were below 0.49.
Therefore at the time of grant, it was actually accretive to our valuation.
Stop trying to spread misinformation, or even worse, don't post when misinformed.
The market cap is now approximately the same as the 100m equity injection...!
See the wood through the trees people, this is just madness. Essentially market now attributing zero value to any of the assets or future income.
Massively undervalued now.