"For Great White I valued the Reserve at higher confidence (20% discount). This is the basis of the PFS. I valued the main zone at AUD $700 / tonne as per the PFS ... so this is conservative given there could sell a concrete product from this resource ( pricing could be up to AUD $4500 / tonne ).
80% discount applied as it is a Proven & Probable Reserve. ADN's share is by my calculations worth $0.26 per ADN share (discounted)"
Holy [cash] cow ! If all on Great White were to go to concrete additive, that's 6 x better return , $700 to $4500/ton. Easier/cheaper to produced.
This switch is bit of a no brainer and the delayed DFS seems to suggest management think do too.
SP $.26 x 6 = $1.82
General comments/chat, page-13294
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