TGN 32.8% 8.5¢ tungsten mining nl

I have had a detailed look at TGN and "for-the-life-of-me" I...

  1. 877 Posts.
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    I have had a detailed look at TGN and "for-the-life-of-me" I cannot understand why TGN has a MC=A$264m. I cannot find a SS, PFS or DFS. The TABBA plant acquired from PLS has a processing capacity of 30tph which works out to around 227tns pa of WO3. This equates to A$9m pa Revenue which at best will produce PAT = A$3m pa and FCF = A$4m pa. TGN's MC = A$264m so a FCF multiplier = 65 times!
    Unless I am missing something TGN looks a bit pricey particularly when compared to other ASX Tungsten companies with SS/PFS/DFS.
    If anyone has a strong economic rationale for current MC, I would be interested to see it.
    Please DYOR
 
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Last trade - 15.51pm 19/03/2024 (20 minute delay) ?
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