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Prairie Min Share Discussion Threads
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|Presentation available now.
|RNS Number : 2629A
Prairie Mining Limited
23 March 2017
PRAIRIE MINING LIMITED
NEWS RELEASE | 23 MARCH 2017 | ASX/LSE/WSE: PDZ
DEBIENSKO SCOPING STUDY PRESENTATION
Prairie Mining Limited is pleased to advise that an updated Company presentation is available for download on the Company's website:
|Options at todays equivalent of 31p, 37p, and 50p, and represent less than 1% of shares in issue.
Paying fees with shares often suggests money is tight, but cash in hand at the end of December was stated as $13m.|
|You may be right. I live in hope!|
|Chinese will buy this outright £1 per share imho dyor|
|Gives plenty of opportunity to build a decent stake before the herd arrive later in the year anyway.|
|asx price equates about 35p here|
|Yup - nothing wrong with a bit of profit taking.
Buy the dips though imo because we still have the Chinese BFS for PDZ's Jan Karski project later this year. Which will be a major milestone towards financing and construction and will see the share price surging to even higher levels.|
|just giving back a little bit of a stellar rise earlier in the week.....healthy imo|
|Why the fall?|
|yes it was up 19% on ASX to $0.56|
|Any news from the Aussie exchange??|
|"...Blessed with the presence of existing rail, road, power, water and other mine infrastructure the project has one of the potential lowest capital intensities for a new hard coking coal mine and is fully permitted for development."|
|I keep buying every chance I get its just a no brainier 282m per year for under 50m!|
|Can buy £1k but not £2k online.|
|I'm not selling any of these for a very long time.
What PDZ is doing is of vital importance to not just Poland but Europe too. Any obstacles (of which I can't see many) will be removed to make it happen.
Prairie's Chief Executive Officer, Mr Ben Stoikovich, said:
"...It is time to re-affirm Poland's status as Europe's premier exporter of hard coking coal, which is so vital for European industry. By introducing international best practise into the Debiensko project, Prairie's highly experienced management team is well positioned to restart this Tier 1 asset, which will have huge social and economic benefits for regional development."|
|...They just upgraded - see above post.|
|agreed - I also think the broker target of 90p is a little light £1.15 to £1.20 is my target|
|Beaufort Securities upgrade target to 104p
Prairie Mining (LON:PDZ, 37.50p) – Buy
Prairie Mining has published excellent results from the Debiensko Scoping Study, its premium hard coking coal project in Poland. Based on a $142/tonne hard coking coal price, the Scoping Study delivers an NPV8 of $1.16bn, post tax. Other highlights include annual production of 2.6Mt of hard coking coal, operating costs of $47/t and steady state EBITDA of $282m. This will be an underground longwall operation with panels 250m by 1.6km. Upfront capex of circa $500m is helped by an existing rail connection, and makes Debiensko a very attractive project in terms of capital intensity (capex/annual production). It's size (mid to large scale) and low cost means it is a Tier 1 project.
Our view: These are very good numbers which clearly demonstrate the commercial and strategic value of Debiensko. Although scoping level, previous owners did a feasibility study on Debiensko and it borders two operating coking coal mines. As a result we regard the operating costs, capex and annual tonnage estimates to closely reflect what a feasibility study will produce. For example the mining inventory for the first 14 years are resources in the indicated category, the coal seams are classified by the Polish system as very easily and easily mineable, and the faulting scenario is well understood due to historical mining of the upper seams. The point is, we don't expect any surprises as Debiensko is fast tracked through to feasibility stage and construction, currently targeted to start in 2019.
We initiated on Prairie on March 1st at 27p with a 90p target, anticipating good Scoping Study results. This morning's result exceeds our Debiensko NPV of $750m (albeit using a slightly higher coal price) and we upgrade our target price to 104p. Given the low operating cost and low capital intensive nature of Debiensko, plus the fact Europe imports most of its coking coal, we believe it has high commercial and strategic value and should be easily financeable. We reiterate our BUY recommendation.|
|Been here for a while now market not even begun to realise potential here|
|Yes mostro we will see mid evening here how they see things in Oz so expect another good opening here tomorrow|
|May be interested when trading resumes in Aus tomo.|
|From the scoping study for the Dediensko mine -
NET PRESENT VALUE
The (ungeared) pre-tax Net Present Value ("NPV") is US$1.503 billion at an 8% discount rate (real), and the (ungeared) IRR is 27.2%. Debiensko is expected to exhibit levels of profitability that would contribute value to Prairie shareholders.
Table 13: Debiensko Net Present Value
NPV (8% real, ungeared) IRR
----------- ------------------------- ------
Pre-Tax US$1.503 billion 27.2%
----------- ------------------------- ------
Post-Tax* US$1.158 billion 24.0%|
|Just to clarify for anyone new to this company the Lublin and Jan Karski mines are the same mine.|