Hi Tibbs et al, these are my back of the envelope...

Hi Tibbs et al,

these are my back of the envelope calculations....

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Current WHE share price: ~3.70
WHE Market Capitalisation: $367m

Valuation / lbs (based on 100 million pound target): $3.67 / lb

ASX Developers Average EV / pound JORC Resource: $8.10 / lb
Implied WHE share price: $8.16 ((100,000,000m lbs x $8.10) / 99,301,000 fully diluted shares on issue)
ASX Producers Average EV / pound JORC Resource $13.30 / lb
Implied WHE share price: $13.39

WHE aims to have a 2 operating mines by 2010, ie: producer status.

The above figures do not Mariakemend which WHE recently said had 100 million lb potential ALONE - It is deep (up to 2000m) so it will need some work. But it has monster potential.

Then:
Dinnyebberjki = ?
Eurash (ash reprocessing) = ?

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the numbers speak for themselves..... i couldnt see why WHE had such a small market cap back in april, now it's adjusted upwards reasonably quickly, but with the increase in targeted JORC, the shareprice seems ALMOST as undervalued as it was in april?

2/5/07 then implied price $4.39 vs shareprice $1.80 = 41.00% fully valued (valuation / lbs = $2.64)
20/7/07 now implied price $8.16 vs shareprice $3.70 = 45.34% fully valued (valuation / lbs = $3.67)

so from my rough!! calculations the shareprice appears only SLIGHTLY more expensive (STILL BLOODY CHEAP with implied at $8.16 on 100Mlbs targeted JORC!) now than it was on 2/5/07?!

im using old EV / pound figures - but they're conservative as U shares and U price have both gone up since the market averages were collated back in Jan? 07....

AND DONT FORGET HUNGARY..... another future 100Mlbs potential!
AND COALASH, ETC.....!

a definite hold to review in 2010/11 as mac12 says.