proper valuation less than 25 a share, page-6

i see what you say, BUT..................

yuor 'margin' doesnt include TAX of 30% off the margin

plus surely theyll need a lot of money to get production up and running????

plus theyll still ala CDU need to prove up resources to reserves

the problem with CDU is that much of the resource is inferred and not proven to be reserves, which they need to diamond drill

like I saud, i havent researched this co extensively, but it looks bloody good!

im just trying to stay conservative here to minimise risk (if there is any risk at entering at $1 at all :) )

Im still of the belief that shares will have to dilute by more than double and they will also have to assume some debt

remember margin i used includes tax for the JBM example and tax is 30%, and you guys havent incl tax

still itm looks good though and im thinking of entering