Valuation: ~6x upside on an unrisked basis31 May 2021 18:31
(from the report) In our base case scenario, we use a helium price of US$250/mcf long-term flat from 2021 and a 12% discount rate from 1/1/2021. Our risked NAV is 25p/sh, which implies 25% upside from the current share price. On an unrisked basis, we have a NAV of £1.33/sh or ~6x upside. Further to this are the follow-on prospects that are not included in our NAV and its other exploration areas. A US$50/mcf increase in the helium price would increase our risked NAV by 6p/sh and unrisked by 33p/sh.