RE:insanely attractive project level economics assume increased capex requires co. to give up more share to JV partner who supplies the funding. Co. is still very undervalued.
| Old capex | New capex |
ebitda | 200.0 | 230.0 |
Co’s JV share | 50.0% | 40.0% |
Co’s project ebitda | 100.0 | 92.0 |
Co. cash exp | -10 | -10 |
Co. ebitda | 90.0 | 82.0 |
Diluted shs | 122 | 122 |
ebitda/sh | $0.74 | $0.67 |
Multiple | 12 | 12 |
Sh value $US | $8.85 | $8.07 |
fx rate | 1.25 | 1.25 |
Sh value $cdn | $10.10 | $9.32 |
lupusalpha wrote: CAPEX: 293m USD
EBITDA: 230m USD per year