Debt repayment

Just been playing with some figures for fun.

From the Dec qtrly • Net debt reduced by US$18.1m to US$129.5 million.
making the assumption that they continue to reduce the debt at that rate and increase it by $1 million per qtr (which seems reasonable) based on increasing ilmenite prices and anticipated in Zircon and Rutile, the net debt of Base should be extinguished by 30/6/18.
USD $129.5 debt = $172 mill AUD. this equates to 23c per share, of debt that has been repaid.
From a recent report that estimated 3c per share for every year of mine life extension and a reasonable estimate of 10 years on its way from drilling, then we can look at 30c gain plus 23c debt reduction plus 29c share price less 4c for 1.25 years of resource used up over the coming 5 quarters. That is a 78c target over the next 15 months.
any thoughts...


cheers contra