Alphamin Resources - Presenting the bull case
Edison’s last note on Alphamin (Underlying results exceed prior forecasts, published on 6 December) was released using Edison’s erstwhile long-term tin price of US$23,425/t applied to financial forecasts beyond Q421. At the time of writing, the three-month price of tin was US$39,020/t, a 66.6% premium to our prior long-term price. It is Edison’s normal practice to use spot prices for near-term (ie quarterly) forecasts within the same financial year and then to use long-term prices thereafter. In recognition of the wide divergence of tin prices from our prior long-term prices this year, however, this note updates our forecasts on the assumption that the tin price remains at current levels throughout FY22. Note that this is the assumption on which our contingent valuation (below) is already based.Alphamin Resources is engaged in the business of locating, acquiring, exploring and, if warranted, developing mineral properties.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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