Thanks Venkata. Unfortunately, I can't provide with you a valuation of ILU. What I do suggest however is to split the company into a valuation of the royalty (as discussed above) and the mineral sands assets. This will give you a "look-through" value for the mineral sands deposits, where the earnings should partially reflect the remaining time-weighted production life of the assets.
Thanks Jack - it appears Iluka have encountered issues with their Sierra Rutile acquisition which has been a significant drag but the iron ore price has certainly been an unexpected boost.
Hi Darren, unfortunately, I don’t have a view on NTU as I am unfamiliar with the company. All the best
Hi Matthew, Unfortunately I'm not in a position to give a recommendation but given it appears to be at an earlier stage in terms of overall development, does have a different set of risks and risk profile.
OCC has made an interesting announcement with regards to the first four patients in its CelGro clinical trial but is at a different stage in terms of overall development timeline.
Thanks for your comment Lloyd. Even if Black Butte gets approved, there is still upfront development capex required for the asset to start production. Also, the earnings profile will differ significantly given its different production and cost metrics compared to DeGrussa.