OTC: ERDCF - Erdene Resource Development Corporation

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = 0.0015
CAGR EPS = 16.18%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.0015 * (1 + 16.18%) / (0.0433 * 2) = 0.0202

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = -0.0055
Ebitda Yield = 0.0672
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0
Debt = 2.3E-5
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 2.3E-5) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.82
β = -4.98
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -4.98 * 5.94 + 0 = -0.2678
WACC = (0 / 2.3E-5) * (100% - 0) * (1 - 0.21) + -0.2678 + 0 = 8.32
Terminal Value = Discount (-0.0055 * (1 + 0.0672) / (8.32 - 0.0672)) = -0.2436
Company Value = ∑ (-0.0055 / (1 + 8.32) ^ 5) = -0.0189
Price = (Terminal Value + Company Value) / Count shares = (-0.2436 + -0.0189) / 345970000 = -0.7587

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = -0.0014
FCF Yield = -0.1449
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0
Debt = 2.3E-5
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 2.3E-5) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.82
β = -4.98
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -4.98 * 5.94 + 0 = -0.2678
WACC = (0 / 2.3E-5) * (100% - 0) * (1 - 0.21) + -0.2678 + 0 = 8.32
Terminal Value = Discount (-0.0014 * (1 + -0.1449) / (8.32 - -0.1449)) = -0.0036
Company Value = ∑ (-0.0014 / (1 + 8.32) ^ 5) = -0.008
Price = (Terminal Value + Company Value) / Count shares = (-0.0036 + -0.008) / 345970000 = -0.0335