Ann: CNX Mineral Resources Increases 30%, page-7

ill put it this way
if we have 63kpa with 5 years of resources we might trade at a PE of 8 to10x
if we have 63Kpa with 20 years of res then we might trade at a PE of 10 to 15x
all things being equal and assuming we are in production

now we are already in a position of having well above 10 years resources, so adding more resources does little to increase the PER.. in fact if we failed to replace mined stock it would be negative to the SP.

excluding Laverton
lets say 40mil profit per annum at a PE of 15 = MCap 600mil.. thats 12 to 13x current SP +- $3.00
and in a few years Laverton has the potential to double that, or maybe more ..pending on final production targets in a future PFS

back of beermat.. with a crayon .. but you get the gist.. and to maintain that SP of $3 we need to add 70-75K new ounces ongoinig