Target of $0.80 already!Review eResearch with higher price target of $0.80:
https://eresearch.com/2021/12/07/eresearch-reports/new-initiation-report-silver-bullet-mines-tsxvsbmi/
Financial Analysis & Valuation:
- The last financing was done in July 2021 at $0.30 and a significant amount of site work has been completed at the Buckeye Mine since then.
- We value SBMI based on an estimate of $11.25 million in cash flow over a 12-month period from restarting production at the Buckeye Mine.
- Assuming a 5x Cash Flow Multiple, this would value SBMI at $0.80 per share based on the fully-diluted share count of 69.9 million shares. The fully diluted number assumes all options and warrants are exercised, which would increase the treasury by approximately $6.1 million.
We are Initiating Coverage with a Speculative Buy rating and one-year price target of $0.80.