OTC: SPAZF - Spanish Mountain Gold Ltd.

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = -0.0059
CAGR EPS = 18.82%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.1337 + (0.1337 * 18.82% / 100) = 0.1589

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 = 0.1823
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 = 1.6E-5
Debt = 0.000291
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.000291) = 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) = 2.39
β = 0.0125
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 0.0125 * 5.94 + 0 = 0.0246
WACC = (1.6E-5 / 0.000291) * (100% - 0) * (1 - 0.21) + 0.0246 + 0 = 4.34
Terminal Value = Discount (-0.0055 * (1 + 0.1823) / (4.34 - 0.1823)) = -0.0378
Company Value = ∑ (-0.0055 / (1 + 4.34) ^ 5) = -0.0176
Price = (Terminal Value + Company Value) / Count shares = (-0.0378 + -0.0176) / 361470000 = -0.1531

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) = -0.0189
FCF Yield = 0.2658
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 = 1.6E-5
Debt = 0.000291
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.000291) = 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) = 2.39
β = 0.0125
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 0.0125 * 5.94 + 0 = 0.0246
WACC = (1.6E-5 / 0.000291) * (100% - 0) * (1 - 0.21) + 0.0246 + 0 = 4.34
Terminal Value = Discount (-0.0189 * (1 + 0.2658) / (4.34 - 0.2658)) = -0.087
Company Value = ∑ (-0.0189 / (1 + 4.34) ^ 5) = -0.0539
Price = (Terminal Value + Company Value) / Count shares = (-0.087 + -0.0539) / 361470000 = -0.3896