+$700 million npv, stock must be +$1.35, page-99

To be honest, if I were you I wouldn't pay much attention to any estimate I put on the ultimate value of SUV's share price because I've only just started to learn about the company. I'm sure there are many other LT holders who would have a better idea of the numbers. Basically, I just looked at the scoping study for White Cloud Kaolin project (below), and thought SUV might end up being a multi-bagger, given its current MC of $87m.

LOM revenue of A$3,600M
• LOM EBITDA of A$2,340M
• Cashflows (pre-tax) for LOM of A$2,222M
• NPV (8% discount rate) (pre -tax) of A$705M
• IRR (pre-tax) of 113%

If SUV get additional value/income from their other activites, they would be a bonus. I particularly like they way they are going for the high value, high margin products like 4N/5N HPA and silica sand flour. I'd also heard the name Aaron Banks from his connection to the Muchea Sand deposit. I'd be interested to know why he sold Muchea to Ventnor (VRX) given it seems to be one of the best grade deposits in Australia. It would have been great if he had ended up being owned by SUV.

All IMHO, DYOR