basis of valuation, page-7

I also bought more at 7.05,originally bought in at 1.8c(18c) and still own.
Shares are less risky now at $7.80 than they were at 1.8c.We can expect at the current exploration rate they will increase the resource by at least 15mlbs per month, as now they have stepped up the drilling.
In valuing the share we can safely assume 400mlbs.
So my new price target is $10.32 next month (400X6/231)
Takeover value is at least twice that, $20.64($12/lb is fair value for this size resource and grade)
If there is to be any corporate play it should happen pretty soon,as now it is pretty clear what they have.There will be many majors looking at the number 1 U explorer.

Also have been buying BMN up to 1.20 as can see the same run EXT had(target price is $2.50(next month).BMN better value at moment but it doesn’t mean the share will increase at a faster rate then EXT.So I bought both.

We are at the beginning of a new bull U market,U prices will increase and there will be further upside to the valuations of the explorers, if u prices go to $85/lb then $12/lb in ground will be cheap.