With an 18c average (bought in various tranches pre/post re-entry) i'm going down with the ship, if it goes down. Small part of portfolio if so and you can't win 'em all in the junior space. So, why do i stay in and not take my measly 6c? Because fact sheet and presentation are down for update, but i have a copy of the previous presentation with the detailed cashflow that came out after the re-entry. It was based on conservative production estimates over only 10 years and when I put it into NPV10 form (Accountant by trade), it returned $208m, so with an extra 250m shares in issue that was 49c.The asset has value, way in excess of the current mkt cap.

 

I have no idea if the BoD is capable of returning anything to us. They have failed their duties in almost every aspect as far as I can see from Chairman to CEO etc... So this is the major issue, not the asset. So i'm not saying this will work out great for me or anyone else. If anyone can fvccccck this up, this BoD can and has to date. If i had new funds they would never go in here in a million years, i would also advise new investors against coming in here, as it is like a coin spinning in the air. No one knows how it will go.

 

Below are the production estimate and my NPV10 (net to MIRA) from the previous published data from MIRA.

 

Year Annual Production BOPD
2013 654,000 1,792
2014 1,240,000 3,397
2015 2,149,000 5,888
2016 2,968,000 8,132
2017 2,788,000 7,638
2018 2,625,000 7,192
2019 2,471,000 6,770
2020 2,327,000 6,375
2021 2,192,000 6,005
2022 584,000 1,600
  19,998,000 TOTAL

 

MIRA RESOURCES NPV 10%    
    NPV
Cost of Capital (%) 10.00% 208,088,136
Market Capitalisation Premium over NPV (%)    
Market Capitalisation ($)   208,088,136
Shares in Issue (m)   429
Projected Share Price ($)   0.49
MIRA CASHFLOW AFTER TAX/LOAN (PG12)    
Annual Change in Operating Cashflow (%)    
  C/F  
0 -105,000,000 -105,000,000
1 31,443,230 28,584,755
2 59,800,727 49,422,088
3 79,428,112 59,675,516
4 54,368,844 37,134,652
5 58,412,263 36,269,420
6 55,564,179 31,364,530
7 45,711,720 23,457,340
8 44,147,691 20,595,224
9 50,935,666 21,601,695
10 12,924,401 4,982,916