According to FML website, Coolgardie Gold Project has a resource of 1.65 million ounces of gold, and the Mount Project has a resource of 370,000 ounces, for a total of 2.02 million ounces. At A$1100 per oz, thats A$2.222 billion. Three Mile Hill when completed will be worth at least $25,000,000. Nepean hosts 13000 tons of nickel at A$19000 is A$247 million. This all adds up to $2.494 billion, nearly $1 per share. Allowing for production costs, exploration expenses etc, there should be at least 20% profit for shareholders, about 20c per share. Note: I have not factored in any additional discoveries, which given the FML track record so far,is probably conservative on my part. Some of you on Hot Copper are well qualified to show me where my amateurish valuation is badly flawed, bring it on ! Please DYOR, as I'm an engineer, not a financial advisor! K
FML Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
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