Hi Oly,
Those were my calculations.
I did them some time ago.
A lot of things change in this market.
The calculations were based on the value per ton of ore if FDL were to prove up 390 Mln tns based on the then shareprice and M/C.
Divide $5,887,223,417 AUD/MC = 46:1
The second figure 15:1 was making the assumption that the numbers would be on the board after the second round of drilling.
I would not use those figures as a too much of a guide.
It was pure speculation on my part.
We now have CR to add to the calculations which obviously means a certain amount of dilution. At the end of the day, its purely a speculative play until it proves otherwise.
We are not going to know that until after the results of the second round drilling. The most important figures will be in the ore grade and the quantity.
Then the speculation can begin.
Cheers markco2
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Is FDL fair value at closing price today?
FDL 974,079,494 sh @ .11 = $107,148,744
FDLOA 381,623,899 @ .055 = $ 20,989,314
Total M/C = $128,138,058 AUD
$5,366,790,000 US convert @ 1.097 x/chge Rte $5,887,223,417 AUD.
46/1 atm or $3.04AUD a tn based on April 1st Iron ore prices.
After 2nd phase drilling which will be around September assuming the tonnage is proven the ratio could come down to 15/1.
That would make it around .33 cents a share. Don't forget there would also be $38mln for conversion of FDLOA's. That may push it up a bit.
Once that has been settled i doubt we would need to worry too much about the CAPEX costs. I think we will have a few lining up at the door by then.
FDL
flinders diamonds limited
