RE: Current NAV of MTR19 Aug 2022 11:24
Our Net Tangible Assets were £30 million (17.8p) on the 31st July 2022. I think this should now be around £38 million with the increase in Cobre, so around 22.5p a share or 35% increase from current share price. The NTA only assigns partial value to things like the A4 royalty, which will remain discounted until SFR publish the Motheo Expansion Case DFS (due next month) and the revenue streams can be calculated with more certainty.
MTR seems a relatively safe way to get exposure to exploration success in the Kalahari (through SFR and CBE), without much downside risk, as we don't need to raise capital and our market cap is fully underpinned by liquid assets. Our operating costs are also covered by the SFR dividend.
Hoping the share price will react more positively over the next 12 months!