Hussy I think the sell-off is more sector related than to do with the mechanics of the CR. Many other resource stocks were hit hard on Friday because the market was jittery before the Bernanke speech. Anyway, the share price fell for whatever reasons, but we know in the long run it will reflect project economics.
Now, the Enterprise Value (excl cash) is $95m. That seems to me too low, although we will have to wait for the scoping study NPV to get a better idea of valuation. The current broker valuation offerings just compare resources with comparable copper stocks, but this is not very satisfactory because it doesn't take into account geology and cost differences.
snap/huss, page-7
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