Some very profound calculations/analysis, page-34

Hi Jar-JarBinks, well done but I would not recommend applying a PE of any number to ascertain value. There would not be a resources analyst working for a fund manager or stockbroker in the world that would use a PE to value a resources company, especially a small non-operating single commodity one like VRX. Practically all mines have a finite life and so DCF is the preferred method. You have done the hard part - working out yearly cash flow, just discount the minelife cashflows  back to present value and subtract development capital.  Cheers