The project economics attributable to CMR (R.S. presentation)...

The project economics attributable to CMR (R.S. presentation) look even better than the Dec '06 presentation...all based purely on existing resources (14.5mmlb U etc).
On the now rather unlikely "long term" forecasts (eg Cu $1.50, U3O8 $60 etc), the total NPV (10%) for the 3 mines are, oxides $58.3m, sulphide $832.7m uranium $67.8m, totalling $958.8 or, assuming 125mm shares, a value of $7.67/share.
However, using spot prices, the values are $285.6m (oxides), $2905.7m (sulphides), and $429.23m (uranium). This gives a whopping NPV of $3620.6 or $28.96/share.
This ignores any resource upgrades, or value for NSW etc.
If prices remain near current levels, this gives an ongoing NPAT to CMR of between $400-500m.
Their 5 year objectives include revenue of $1bn pa, assuming LONG term prices, so more than double current projects, and 5mm lb pa of U3O8.
Whilst commencing oxide operations maybe October will boost the stock price somewhat, it is the timing of the huge sulphides (maybe '09 according to Dec presentation) and U production and upgrades which should wake a few fundies from their slumber.