most undervalued little gem on asx today..., page-3

Hi guys,

I bought into this today...

Did my own numbers and they are close to Raks on this thread.

I don't understand why they are so cheap.....

My calculations are as below (like Raks if anyone feels like commenting please feel free).

Assumption 1: Congo assets are restructured as proposed (shareholder approved)

Assumption 2: Congo Coppper Corporation can actually list on Aim in next 3 months and raise capital at the proposed 10p / share.

Based on only these two assumptions my calcs are as follows:

166,666,667 issued shares in Congo Copper = 52% of Congo Copper (announcement on 30 July)

This means there are 320,512,821 shares expected to be issued (fully diluted) in Congo Copper (i.e. 166,666,667 / .52) valued at 10p / share.

CC market cap at 10p therefore 32,051,282.12 pounds which converted to $AUS at todays rate (2.472) = $79,230,769.39

NWA's share = 52% = $41,200,000.08

NWA's share capital (from the last quarterly cash flow - includes shares from the 1c issue) =

Fully Paids 587,383,734
Options 23,656,598
Fully Diluted 611,040,332

Value per share = 41,200,000 / 611,040,332 = 6.7c / share $AUS

This is a 306% return on today's closing price. If we can get anywhere near this in the next 3 months on AIM Listing then we should be cheering!!

My question remains.....why are we still trading at only 2.2c / share?

Anyway peoples thoughts are welcomed - have I missed the obvious?

Thanks

Hevlet
(Please note I am just an amatuer share punter)