Yes, the author said that and I also said
"As I said - its not a fixed formula - there is a premium on offer if the co is a takeover target, if the co is in production etc, if the co has a BFS."
However, still doesn't approach that figure of $6 EV/t and I'm certainly not trying to ramp it to that level.
However, like I also said - companies are trading at over $1 EV/t - so best not to compare CDS to Macarthur. Best to look at co's that are comparable and go from there.
Comdek have brought in two guys who took a co from a micro cap and sold it to XStrata for over a billion. These guys are big hitters.
I'm not trading it - These guys have been waiting for a while to JORC up this resource and to go in and drill.
Best of luck with your trades.
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