$BNNLF : Bannerman Resources — Independent Economic Analysis

Long-Term Price Case$75/lb. U308
Flagship ProjectEtango
Mineral Reserves130.1M lbs.
Fully Diluted Shares1,136,000,844
Fully Diluted Market Cap$40,896,030
Average Annual Production7,059,438 lbs.
Recovery87%
LoM16 Years
Payable Product112,951,000 lbs.
True All-in Cost (TAIC) $63.71/lb.
Gross Revenue$8,471,325,000
Royalty($423,566,250)
Gross Income$8,047,758,750
Total Operating Costs($4,291,071,000)
Operating Profit$3,756,687,750
Income Taxes($1,408,757,906)
Total Capital Costs($1,075,141,000)
Net Income$1,272,788,844
Net Profit Margin15%
Absolute Cost Structure (ACS)85%
MTQ Score (Higher is Better)0.2
True Value$1.12/sh.
True Value Discount (TVD)97%
Cash Flow Multiple5x
Annual Cash Flow$79,701,055
Future Market Cap$398,505,275
Future Market Cap Growth874%
Target$0.35/sh.

Notes: All Values in U.S. Dollars

TAIC Comparison (Lower is Better)

Net Profit Margin Comparison (Higher is Better)

MTQ Score Comparison (Higher is Better)

True Value Discount Comparison (Higher is Better)

MTQ Score — Global Study Group Comparison (Higher is Better)

2 replies to “$BNNLF : Bannerman Resources — Independent Economic Analysis”

  1. Hi Tom,

    Have you evaluated Global Atomic yet? I would be interested in knowing your thoughts about them. Technically speaking, they seem to have a very strong chart since it bottomed in 2016.

    1. Hi, Bryson,

      I have evaluated Global Atomic. I no longer have the workups for it, however. The 2020 Feasibility Study will tell us more. I don’t plan on devoting much time to Global Atomic, however.

      Have a great weekend.

      Tom

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