Good morning
Manuka Resources - which is set to list on ASX next week - will have a market capitalisation on listing of at least $50 million. ASX code: MKR - prospectus here: https://www.manukaresources.com.au/site/PDF/76b38403-a327-4d82-b5a5-99a844973fed/ManukaProspectus.
But this is where things get interesting - MKR's market cap is predicated on it producing (get this) - 22,000 to 24,000 ounces of gold via a mixture of trucking and processings ore stockpiles at their own gecko machine. MKR will do this over the next 12-14 months.
Now - MKR has its own mill at Wonawinta (worth say $30 million) and a tonne of debt (approximately $30 million) - so lets say this is value neutral (ie the mill and the debt cancel each other out) - meaning that all of MKR's deemed market cap is because of its forecast gold production.
Now - Enter CNB.
CNB will produce 29,000 ounces of gold over the 13 months following the commencement of production later this year. Almost the same if not a little better than MKR.
MKR has forecast $29 million in pre-tax revenue over the next 13 months. CNB is forecasting $25 million in pre-tax revenue over 13 months. Almost the same with the difference attributable to our slightly higher AISC.
So - basically - in my mind - CNB coud trade at $0.25 and still have a market capitalisation of less than half that of MKR! CNB would have to get to $0.50 per share to have the same MC as MKR (and we are debt free!).
I just bought more CNB and have decided to build a position in this stock as we are deeply deeply undervalued IMO.
GLTA.
- Forums
- ASX - By Stock
- CNB
- Comparable analysis
Comparable analysis
-
- There are more pages in this discussion • 179 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CNB (ASX) to my watchlist
(20min delay)
|
|||||
Last
59.5¢ |
Change
-0.005(0.83%) |
Mkt cap ! $96.89M |
Open | High | Low | Value | Volume |
61.5¢ | 64.0¢ | 59.0¢ | $211.2K | 342.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 5860 | 59.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
60.0¢ | 16959 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 5860 | 0.595 |
2 | 29389 | 0.590 |
4 | 81570 | 0.585 |
3 | 12448 | 0.580 |
1 | 4000 | 0.575 |
Price($) | Vol. | No. |
---|---|---|
0.600 | 16959 | 1 |
0.620 | 2000 | 1 |
0.630 | 33511 | 1 |
0.635 | 33053 | 1 |
0.640 | 152422 | 4 |
Last trade - 16.10pm 28/03/2024 (20 minute delay) ? |
|
|||||
Last
59.5¢ |
  |
Change
-0.005 ( 0.83 %) |
|||
Open | High | Low | Volume | ||
61.5¢ | 64.0¢ | 59.5¢ | 133566 | ||
Last updated 15.59pm 28/03/2024 ? |
Featured News
CNB (ASX) Chart |
The Watchlist
BGD
BARTON GOLD HOLDINGS LIMITED
Alex Scanlon, Managing Director & CEO
Alex Scanlon
Managing Director & CEO
SPONSORED BY The Market Online