RE:RE:New S Marketing DeckThe opportunity here is the following: NBF has 2022 Ni at U$14.00, yet has only C$238mm of Ebitda, up from C$143mm Ebitda and Consensus stuck at C$131mm. I ran my model through the company late last week and as you can see, my model and the company's senstivity chart on Slide 24 are extremely close.
This is an orphaned company and the Analysts are not doing their due diligence. The company should correct the Analysts. Regardless, this is the opprotunity because it a "show me story" which will pop/gap up after institutions do some work and realize the FCF.