basic calculations

say they find...

100mt
200mt
300mt
400mt

spot price $100mt (conservative)
and if they were to extract and sell
and using 10% return after costs (conservative)

using 950 mill shares...for ease calculation


100mt = $10 billion
after costs = $1 billion
SP $1.05


200mt = $20 billion
after costs = $2 billion
SP $2.10


300mt = $30 billion
after costs $3 billion
SP $3.15


400mt = $40 billion
after costs $4 billion
SP $4.21


Now to find a SP valuation
based on in-ground find only with no development
maybe just a straight sell of the find

...and not allowing for any royalty
...and not including any other FDL assets

And using $3mt (very conservative)

100mt .....SP = 31c
200mt......SP = 63c
300mt.....SP = 94c
400mt.....SP = $1.26


*And all based on $100mt which may well be closer to $150mt come this time next year*

SP is currently 9c

cheers