location of projects, page-17

Hi Dave,

Thanks for your response. I get some diffent figures from yours (hence why forums like this are good as you can bounce different figures around which adds value - as long as you disclose sources of your figures so we can eventually reach a conclusion).

I get the following per the BBY Presentation & Jericho Announcements.

Number of shares on issue:
649.6 million shares (BBY Presentation)
91 million options (BBY Presentation)
?.? million shares (Jericho Announcement)
740 million shares (TOTAL - prior to Jericho acquisition)

Current Resource:
290 million tonne (450 x 70% S Africa - BBY Presentation)
22 million tonne (Tasmania - BBY Presentation)
80 million tonne (Jericho Announcement)
392 million tonne (TOTAL)
392mt x $1/tonne = $392 million

Target Resource:
290 million tonne (450 x 70% S Africa - BBY Presentation)
160 million tonne (Tasmania - BBY Presentation)
300 million tonne (Jericho Announcement)
750 million tonne (TOTAL)
750mt x $1/tonne = $750 million

Therefore estimated share price:
392/740 = $0.53/share (based on current resource)
750/740 = $1.01/share (based on expected resource)

Using your number of issued shares:
392/890 = $0.44
750/890 = $0.84

Therefore CDS is trading roughly on par with the current resource and is trading at a significant discount to the estimated resource.

Therefore this signals that FSE is currently trading at a significant discount.

Does anyone else get any other figures?