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Strategies & Market Trends : The Ego Forum
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To: hubris33 who wrote (12129)7/27/2014 3:04:41 PM
From: hubris33   of 12175
 
Quick CF Model on SFEG............ .................. .................

On a VERY conservative basis:
  • Realized POG @1250/oz rather than the 1300/oz projected by the company. Escalating by 2%/yr puts POG at 1300/oz in 2016.
  • Assumed cash costs @ 650/oz versus projected 500, a 30% increase.
  • Assumed G&A at 2011 levels, escalating by 3%/ yr ( I hope they are able to pare head shed costs!)
  • Assumed Depreciation at 2013 levels
  • Unknowns are Sustaining CapEx and Finance Expense, so made conservative assumptions there.

All of that figured in to get an NPV and with 177MM sh out (the prior 111M + issued 66M) and we can still see nearly a double in share price from here.
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