So whats the price of Bauxite again? Say $50/t, and say they come up with a JORC of 150mt, which results in an IGV of $7.5billion.
Even if we assume a 5% valuation based on IGV, that gives a mkt cap of $375m. According to commsec, the current mkt cap is $25m, so based on what they come up as a JORC, we could be sitting on a minimum 15-bagger.
I was too young to be in FMG, but this baby looks like its got all the right boxes ticked.
old data csr , page-12
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