Franco-Nevada Corp T.FNV

MJS.V Fact Sheet - Including Q3

[Value2020]

Market Cap:        $ 93.41 Million

Cash Position:    $ 69.94 Million ( 51.50 Million USD )

****** Zero Debt ******

Getting MJS for: $ 23.47 Million ( 17.28 Million USD )

2022 Net Income 9 months: 22.27 ( 16.40 Million USD )

The financial summary for 3 most recent quarters:

September 30, 2022
Revenue:       $15,762,546
Net income:  $5,135,207

June 30, 2022
Revenue:       $16,438,676 
Net income:  $5,844,799   

March 31, 2022
Revenue:       $16,966,985  
Net income:  $5,417,860 

• Mine In Productin Since 2011

• Mine License extened for 10 years  Till 2031.

• First Licensed for 5 year till 2016, Second extension 5 year till 2021, Latest extension 10 year till 2031.  No Regional or Regularity Risk.

• Mine life till 2043 (21 More Years) so 1 more extension will be needed. History shows this will be routine.

• Governmental Safety Inspections completed in August 12, 2021. No remaining risk.

• Total cash costs are $654/ounce.  Gold trading at $1755/ounce
   

Shandong Mining trading at 25 times Net Income. Majestic Market Cap Calculation as per Peers

 

Majestic first 9 months net income: 16.4 Million USD

 

12 Month projected Net Income: 22.0 Million USD

 

*** 22 Million x 25 times multiple = 550 Million USD ***