that isn't the point vayama, i talking about the coming 6 - 12...

that isn't the point vayama, i talking about the coming 6 - 12 months. Where would you rather have your money? And i'm talking about bmn, which is in strife in my book. Not spec's in general.

Say they try and raise 600 million for the capex for the coming mine and they raise 50 percent through debt and 50 percent through equity.

At current prices they would have to raise 300000000 / .80 = 375000000 new shares on issue. Thats assuming to that they wont raise it at a discount which is highly likely. This would give them approx 528750000 (fully diluted) shares on issue. With current pounds in the ground on the average take over price per pound of 6.25, 107000000 * 6.25 = 668750000

Divide that by the new number of shares on issue

668750000 / 528750000 = 1.26 npv per share.

This is obviously very rough, but with cash flow way off in 2011, there dosent seem to be to much to lift the share price in the next 6 months.

Will come back in 6 months and see who was correct. I can see no reason at the moment to be buying bmn. Not to mention the savannah issue where they might not even have any resource at all. One has to ask why petter batten was given the boot.