copper now $1.23c/lb($2,700+)/t, page-30

re: my calculations for anvil PEs are meaningless when it comes to measuring the value of small to mid cap mining companies.

If I told you that I know that I know of a mining company currently on a PE of 1 would you rush out and buy it? Not sure?

What if I told you that the company had one mine, that mine only had one months life left in it, and the company was trading at 10 times its book value. Would you buy it now?

Back to Anvil, the mine has roughly 8 years in it, and the rest, though promising is only speculative. So valuing Anvil on PEs is pointless. You have to look at the value of what is in the ground minus the cost of getting it out , then discount the figure you come up with by the rate of return that you expect to get over the life of the mine, which for somewhere like the DRC should be 20%pa