RE: Valuations15 Nov 2020 13:11
Afternoon samdan, in principle we have averages, about 10% for PEA sounds right, 20-30% for PFS 30-40% for DFS, and unsure on BFS.
This is however a guide and baseline, as you can imagine. We then have the risks involved, how funding would occur at each stage, and finally production. So really a baseline to make your individual assessment, as I and others have done.
Phattrader, is good at this. ( my opinion ).
However if we look at NPV at PEA, it was 4.4 billion dollars. so roughly 1.30 dollars to the pound gives us 3.3 billion pounds.
at 100% that gives us roughly £1.65 a share, so 10% at PEA would be 16.5 pence.
We are about double that, so PEA is about 20%, and I find that very encouraging, as we are seeing value at this stage.
However, it maybe that some of the PFS is already priced in, so we may not get the rerate that some people think.
I think the reason we have our current price, is we have defense kicking in, and more to come.
So price will be volatile ( more volume on a daily basis would help ). But to my mind, progressing as planned.
All the best.