Updated for financial position as at 31st December 2007.
http://wacq.files.wordpress.com/2008/06/ppp-220608.pdf
- TAPIS price assumptions revised upward
- 0.90 flat USD/AUD cross-rate used
- Interest revenue and expense schedules added
- Discount rate adjusted to 10% due to de-risking
- 8.00% cost of debt and 6.50% rate for cash used
- Zero value attributed to Maitland and other projects
- Cash retention (i.e. 0% dividend payout) policy assumed
Valuation: $0.358
Last Price: $0.265
Expected Return: 35% (Buy 1)
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