re: re a pump and dump Dr Carlos Sorentino states the following in his letter states the following:
"The last five years average CAPM beta of 12.7% for the ASX resources sector, indicates that it will be prudent to use as an estimate of market capitalisation a price to earning ratio of one to eight. This value is similar to the one recently used by SQM in their valuation of the Atacama deposits. Within this analytical framework, Admiralty’s market capitalisation will range as follows"
He then goes on to multiply the NPV of the project (mistaenl assuming NPV is the same as earnings) by eight to arrive at a valuation range of A$597 to A$1100M for Admiralty.
Oh dear!
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