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However, it gets even crazier when we try to work out an...

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    However, it gets even crazier when we try to work out an inground value which my schoolgirl maths tells me is US$0.035/ton

    Now of course, in ground value can be fraught, but 4 cents per ton for REE and Bauxite! Seriously....?

    Let's allow a 50% discount for current low RE prices.

    And a 25% Sovereign Risk Discount.

    So now, maybe we're at 10 cents/ton? Which is still crazy.

    That leaves management risk at ?,???,???%
 
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