Post by
nozzpack on Dec 28, 2023 8:00am
Financial Forecast 2024 ( 90 % ) CF 2023 ( 45 % )
The most recent quarter ( Q3/23 ) annualized ( x 4 ) at 45 % ownership of Asanko mines compared with GAU's forecast for 2024 at 90 % ownership ....All amounts in USD
2023 ( 45 % ) 2024 ( 90 % )
Revenue $125 m $351 m
Production 65000 167000
POG $1902 $2100
AISC $1445 $1581
Free Cash Flow $43 m $110 m
Cash Position at January 1/24 .............................. $128 m ( $170 m C$ ) ( $0.76 /share )
Estimated Cash Position December 31 2024.........$238 m ( $315 m C$ ) ( $1.20 / fd share )
Free cash flow per fd share for 2024 = $0.56 CAD
Peer FCF multiple is 10 times .
Fair value on 2024 Forecast Free CF = $5.60 + $1.20 /share in cash = $6.80
2025 onwards FS projects 250,000 ounces per year for 8.5 years at AISC less than $1100 US per ounce which with significantly increased free cash flow at $2100 POG would elevate fair value including cash above $12 per share