Running Commentary on the SP Movements., page-5185

Kitter1959, you raise a valid point. I don't know what the discount factor should be but at 90% you can safely assume commodity substitution is taken into account. That said, even the most pessimistic analysts now agree that a supply shortage until 2025 is the most likely scenario. It was just a back of the envelope calculation to highlight the potential value of the resource. Not sure why you've made the mine life issue key to your response but as I say, noted. Would certainly appreciate if you could come up with an estimated value even using the most basic of assumptions. That would be a great value to me and other followers of the stock. Cheers mate.