Stock data
| Market cap. | £26.1m |
| Last close | 13.75p |
| High / Low (52 weeks) | 53.8p / 10.6p |
| Stock market listing | AIM |
| Forecast net cash (£m) | 11.5 |
| Forecast gearing ratio (%) | N/A |
| Team | Resources - Mining |
| Sector | Mining |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | 6.8 | (20.86) | (33.73) |
| Relative * | 1.89 | (25.33) | (31.21) |
* % Relative to local index
Other companies covered in sector
| Y/E Jun | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 0.0 | (2.0) | (2.0) | (1.4) | N/A | N/A |
| 2011A | 0.0 | (6.1) | (6.1) | (3.6) | N/A | N/A |
| 2012E | 0.0 | (2.5) | (2.4) | (1.3) | N/A | N/A |
| 2013E | 0.0 | (2.5) | (2.5) | (1.0) | N/A | N/A |
Last updated on 09/12/2011
Latest research
Scoping study analysis
Update | Mining | 06/12/2011
Maiden Ruoni N resource
Update | Mining | 03/11/2011
Tenge/Ruoni results
Update | Mining | 08/09/2011
Tenge-Ruoni opportunity
Update | Mining | 04/05/2011
Monte Muande revelation
Update | Mining | 25/03/2011
Monte Muande revealed
Update | Mining | 01/02/2011
Higher grades identified
Update | Mining | 12/11/2010
Exploration update
Update | Mining | 03/11/2010
South Zone update
Update | Mining | 09/09/2010
Further drilling
Update | Mining | 17/08/2010
Resources to quintuple?
Update | Mining | 28/07/2010
Investment summary
Baobab has announced positive results from a scoping study on its Tete project (iron/titanium/vanadium) in Mozambique. The study modelled the Ruoni North inferred resource comprising 93Mt of the 267Mt resource inventory. Two scenarios were assessed and both demonstrated viable project fundamentals. The most compelling economics were obtained from scenario B, producing 1Mtpa of pig iron, rather than 3Mtpa of titano-magnetite concentrate as in scenario A. Scenario B has an initial capex estimate of US$690m and returned a NPV(10) of US$1.4bn (before tax) over a mine life of 25 years, whereas A has a US$448m initial capex estimate and returned a NPV(10) of US$467m (before tax) over a 15-year mine life. While both cases reveal viable economics, plans for on-site smelting of pig iron provides significant value to the project.
Last updated on 09/12/2011
Industry outlook
Short- to mid-term weakness in iron ore prices is possible as underlying demand remains weak.
Last updated on 09/12/2011
Key management
| Jeremy Dowler, Chairman |
| Ben James, MD |
Company address
| 49 Phillimore Street Fremantle, 6160 Australia +618 9430 7151 View website |
