Ann: Exciting Drilling Results continue from Bung, page-31

re: Ann: Exciting Drilling Results continue f... 750Mt?

If IOH get to that figure, with 145million shares on issue (fully diluted), and using a valuation metric of $0.80/t, the share price valuation works out to:

750M/t x $0.80 / 145 million shares = $4.13

I've based the above using the method that Fosters Stockbroking used. Their valuation metric for Iron Ore was based on the BHP bid for UMC, which has an implied resource valuation of $1.24. So I have discounted the above significantly.

If I use $1/t the share price valuation is:
750M/t x $1 / 145 million shares = $5.17

Butchy.