umc worth $200m no rail, page-31

"what does the UMC deal make PLV worth?

On current inferred resource of 54 mt...
The UMC deal was done at $1.29 a tonne. Therefore our deposit is worth $70m. Or double our current market cap."

I saw this and wondered if the bolded part was true, so I did my own calculations.

Firstly PLVs market cap is around $49 million including the 30c options that are obviously in the money (78 million shares and 25 million options).

Secondly the market knows PLV are looking to raise $20 million. If we assume they raise $20 million at 44c that's an additional 45 million shares.

They closed on friday at 47c, funnily enough at 47c the fully diluted market cap post the capital raising would be...

*drum roll*

$70 million.

Obviously any broad comparison like this ignores ore quality, transport issues, exploration upside etc.