Full Steam Ahead, page-9

Market Cap:

The Hot Copper Mkt Cap figure shown on the right ($13.61m) is incorrect - for 25c or 60.5c - hence my wrong calculation.

So - more accurately - I've calculated the shares on issue post this placement using the fact that 32,974,562 shares equates to 5.644% of the SOI after the placement as stated in the announcement.

Based on this, 100% of the SOI after the placement would be 584,240,999 SOI.

At 60.5c per share that would value CSD at $353m market cap.

Thanks Meteor - I'm not sure why the HC figure is incorrect - it hasn't been easy to keep track of SOI so perhaps that's the reason.

That's a pretty significant market cap and would seem to be finally valuing the operating plant and leases at a reasonable level.

I think it would be "risky" in terms of the SP to come back onto the market before the income can support a market cap valuation of that size.

Perhaps someone who knows more than I do about P/E ratios, earnings etc could work backward from the MC to estimate an earnings figure that would be able to support the market cap?