how this stock can be worth $1.50 in 5yrs, page-19

MojoInvest,
Have you missed anything?
Answer Yes. Mining & oil companies valuations should be calculated on a Discounted Cashflow basis (DCF) not P/E basis because the resource is diminishing. How could you value a oil well that had say 5 years production left on a P/E of say 10?
Whilst I believe SSN is an interesting story posting inappropriate valuations can mislead the inexperienced investor. Perhaps a new Discounted Cashflow Model with assumptions would be more appropriate.
Regards
Buffett