In our previous flash note dated 19th August, we briefly covered the Adriatic Metals (ADT) DFS announcement for the Company’s Vareš project in Bosnia and Herzegovina (BiH). In this note, we update our ADT financial model based on the updated project parameters and explore the details of the DFS in more depth. We have also revised our long-term commodity price inputs to be closer to current spot. Overall our DCF price target falls by ~6% to GBp 274 per share, with a small cut due to changes in th ....
20 Sep 2021
Delving deeper into the Vareš DFS and updating valuation
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Delving deeper into the Vareš DFS and updating valuation
Adriatic Metals Plc (ADT1:LON) | 197 2.4 0.6% | Mkt Cap: 603.0m
- Published:
20 Sep 2021 -
Author:
Roger Bell | Andrei Kroupnik | Jay Ashfield -
Pages:
9
In our previous flash note dated 19th August, we briefly covered the Adriatic Metals (ADT) DFS announcement for the Company’s Vareš project in Bosnia and Herzegovina (BiH). In this note, we update our ADT financial model based on the updated project parameters and explore the details of the DFS in more depth. We have also revised our long-term commodity price inputs to be closer to current spot. Overall our DCF price target falls by ~6% to GBp 274 per share, with a small cut due to changes in th ....