| Long-Term Price Case | $65/lb. U308 |
| Flagship Project | DASA |
| Mineral Resources | 82M lbs. (1,200 ppm) |
| Ownership | 100% |
| Shares Outstanding | 144,200,000 |
| Market Cap | $53,930,800 |
| Average Annual Production | 4,864,437 |
| Recovery | 84.3% |
| Payable Product | 69,075,000 |
| LoM | 14.2 Years |
| True All-in Costs (TAIC) | $48.54/lb. |
| Gross Revenue | $4,489,875,000 |
| Total Operating Costs ($24.96/lb.) | ($1,724,112,000) |
| Operating Profit (EBITDA) | $2,765,763,000 |
| Niger Royalty (12%) | ($331,891,560) |
| Income Taxes (30%) | ($829,728,900) |
| Total Capital Costs | ($467,100,000) |
| Net Income | $1,137,042,540 |
| Net Profit Margin | 25% |
| Absolute Cost Structure (ACS) | 75% |
| MTQ Score (Higher is Better) | 0.3 |
| True Value | $7.89/sh. |
| True Value Discount (TVD) | 88% |
| Cash Flow Multiple | 5x |
| Net Annual Cash Flow (Including Avg. BST, Iskenderun, Turkey Net Annual Cashflow) | $86,568,633 |
| Future Market Cap | $432,843,165 |
| Future Market Cap Growth | 703% |
| Target | $3/sh. |
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2 Comments
Hi Tom,
What is the difference between target and true value? Also what is the true value discount related to?
Thanks.
‘True Value’ is calculated with a formula that takes projected LoM Net Income into account. ‘Target’ is calculated with a formula that takes projected Net Income over the course of a single year into account, multiplied by a reasonable multiple at which it might trade under optimal conditions.