Just on in-situ value of resources using industry metrics we should be at $0.258 per share or a market cap of $192.4M. It's important to note that BAT owns 100% of it's resources.
Edison Investment Research published this valuation table (ignore their sic 'zinc' error in the row label) :
Applying this to resource statements taken from BAT announcements (date references below), I've calculated the value of the Montepuez and Balama resources based on Edison's industry metrics as follows:
BAT Price at posting:
8.1¢ Sentiment: Buy Disclosure: Held
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