Alliance Mineral Assets

03 Dec 2017 19:57 #24162 by Amataw
Amataw replied the topic: Alliance Mineral Assets
regarding Tawana Resources:

Attractive valuation on an absolute and relative basis

Our target price of A$0.60/sh implies a potential return of 54%, making it one of the
most undervalued lithium stocks under coverage with a P/NAV of 0.64x (Figure 14). In
our view, Bald Hill’s near-term production status, clean balance sheet (only minimal
debt) and cash flow/earnings potential are yet to be factored into the share price. We
estimate TAW is trading on a FY19e (year in which the peer group will be producing at
capacity) EV/EBITDA of 2.2x, versus more highly fancied hard rock developer peers in
Altura Mining (AJM-ASX | HOLD) and Pilbara Minerals (PLS-ASX | HOLD).

Canaccord Genuity.

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