Noticed a few director buys here. BTW: Alex is the MD (source: marketindex)
21/12/22 Alexander Molyneux Buy +105,000 $0.228 $23,980 On-market trade
15/12/22 Alexander Molyneux Buy +145,000 $0.234 $33,875 On-market trade
14/12/22 Alexander Molyneux Buy +250,000 $0.230 $57,458 On-market trade
Correction on my calculations before
My rough DCF comes to be around 550m including capital expenditure. I got my Pound to tonne conversion wrong!
![3640ed7b382638914cfdb81948e10c712d2143.png](//strawman.com/member/uploads/objects/d5/3640ed7b382638914cfdb81948e10c712d2143.png)
So NPV of 575M overall but I guess the cash costs they quoted doesn't include interest expense on debt of 110m and royalties (so maybe 500M?). Still think stock is trading around fair value as this is a underground mine and anything can go wrong. Also the company has found copper gold drill results below the silver/lead Abra deposit.
(Previous incorrect statement as reference - my very rushed valuation (on the Nov 2022 presso) comes less than the current MCAP. So it is probably fair value here. Note that Abra is a underground mining op)
![2a277c7972562e69ba9abe3f197d452010712e.png](//strawman.com/member/uploads/objects/1c/2a277c7972562e69ba9abe3f197d452010712e.png)
![f2aff2dae9c044ef3cd10ee04449fc150f35c9.png](//strawman.com/member/uploads/objects/42/f2aff2dae9c044ef3cd10ee04449fc150f35c9.png)