wolfram camp numbers revisited., page-4

Here's my 'back of the envelope calculation, rough as a penrith pub and open to critical analysis:
Typical price/earnings ratios for mining companies are usually around 15 to 18 times annual earnings....thus the 'perceived capitalisation' based on your figure of about 14 million annual net profits gives a figure of about 210 to 250 million.
With 130 million shares on issue, that gives a 'fair price' of between $1.61 and $1.92.
That's between 10 and 12 TIMES the current share price......!?