@pickagoodoneJust look at what makes up book value and you can...

@pickagoodone
Just look at what makes up book value and you can see that makes zero sense at all. cash is 53c alone, plus about $1.5bn has been spent on infrastructure and proving up the resource, so what's that another 50 cent.
then what about the resources.. maybe not worth anything now but could be in the future
Ok..should the price rise another $100 to $850
I read on the website that it has a 34 year mine life.
not sure if that is at 1m tonnes a year or 2 m...
but just go with the lower production number..
and say we make $100 profit from each tonne
$100 x 1m tonnes = $100m
$100m x 34 = $3,400 m
that would value the resource base at $3.4bn or per share, 3400/3010 = $1.13
just on book value alone that would value the company @ $2.16
not to mention the potential in developing the Latin resources mines.
I reckon from a rational point of view then that $2.16 is the lowest it can possibly
But sentiment could make any price make sense as people go running around in circles, pulling out their hair, saying "all is lost! we are all doomed!"