RE: Market Correction12 Jul 2021 16:27
Oh I forgot to add that we should get confirmation of the 90% interest in Hamersley soon (since already updated on Corporate Presentation).
UFO's valuation for Hamersley alone will then be:
Downside valuation:
74,000,000 tonnes x 0.5 Fe = 37,000,000
x£8/t = £296,000,000
x0.4 (to discount 60%, not 80%) = £118,400,000
x0.902 (UFO share) = £106,796,800
= 2.95p/share
Upside valuation:
245,000,000 x 0.5 Fe = 122,500,000
x£8/t = £980,000,000
x0.4 (to discount 60%, not 80%) = £392,000,000
x0.902 (UFO share) = £353,584,000
= 9.75p/share