BAHVEST A SCREAMING BUY?
BAHVEST NET PROFIT POTENTIALLY ALMOST TOUCH RM70MIL
Based on recent 4Q19 result, i estimate Bahvest profit to potentially touch RM70m in FY20 (ending March).
"The mining operations recorded a revenue and gross profit of RM26.853 million and RM12.133 million respectively under current quarter. The sales revenue of RM26.853 million represents approximately 155.90 kgs of net gold sold during the quarter under review."
| Gold Price Assumption | USD1,306/ounce | ||||||
| Production |
Gold Price/kg USD |
USDMYR |
Gold Price/kg MYR |
Revenue | |||
| 4Q19 | Jan | 41.2 | 42,011 | 4.10 | 172,247 | 7,102,453 | |
| Feb | 61.4 | 42,011 | 4.10 | 172,247 | 10,572,259 | ||
| Mar | 32.9 | 42,011 | 4.10 | 172,247 | 5,661,961 | ||
| 135.5 | 42,011 | 4.10 | 172,247 | 23,336,673 | Actual mining revenue about RM26.85m according to the announcement | ||
| 1Q20 | Apr | 76.8 | 42,011 | 4.15 | 174,347 | 13,394,100 | |
| May (est) | 76.8 | 42,011 | 4.15 | 174,347 | 13,394,100 | ||
| Jun (est) | 76.8 | 42,011 | 4.15 | 174,347 | 13,394,100 | ||
| 230.5 | 42,011 | 4.15 | 174,347 | 40,182,301 | |||
| 2Q20 | Jul (est) | 80.7 | 42,011 | 4.15 | 174,347 | 14,063,805 | |
| Aug (est) | 80.7 | 42,011 | 4.15 | 174,347 | 14,063,805 | ||
| Sept (est) | 80.7 | 42,011 | 4.15 | 174,347 | 14,063,805 | ||
| 242.0 | 42,011 | 4.15 | 174,347 | 42,191,416 | |||
| 3Q20 | Oct (est) | 84.7 | 42,011 | 4.15 | 174,347 | 14,766,995 | |
| Nov (est) | 84.7 | 42,011 | 4.15 | 174,347 | 14,766,995 | ||
| Dec (est) | 84.7 | 42,011 | 4.15 | 174,347 | 14,766,995 | ||
| 254.1 | 42,011 | 4.15 | 174,347 | 44,300,986 | |||
| 4Q20 | Jan (est) | 88.9 | 42,011 | 4.15 | 174,347 | 15,505,345 | |
| Feb (est) | 88.9 | 42,011 | 4.15 | 174,347 | 15,505,345 | ||
| Mar (est) | 88.9 | 42,011 | 4.15 | 174,347 | 15,505,345 | ||
| 266.8 | 42,011 | 4.15 | 174,347 | 46,516,036 | |||
| RM | |||||||
| Total for FY20 Estimate | 173,190,738 | ||||||
| 40% net margin | 69,276,295 |
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With a paid up of 1200million shares, it can't even achieve a EPS of 6 sen, not forgetting the 600 m warrants conversion......
2019-06-07 18:39
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Holyman
sonichead u as bullish as RHB.
2019-06-04 14:49