re: Ann: LCY: Exploration Update and commence... Hi guys, just...

re: Ann: LCY: Exploration Update and commence... Hi guys, just playn with some numbers about what LYC or someone could be offering for HAW's 40% in MT Bevan... please scrutenise it to death so i can make a close to accurate assumption.

In total there is 1.6BT (billion tonnes)

in ground value ive allowed for $2/t

total shares 1,775,600,000

ok

so what i did was say it takes the buyer to mine its 40% of resource "640,000,000t" 10 years to mine it ...

this would mean i divide the $/t in ground which is $2 by 10 years which gives a value of 20c/t....

640mil x 0.2

this values there share at $128,000,000...

do not forget it is this price due to the fact i have allowed for a 100% margin gain to $4/t for the buyer.

now $128,000,000 divided by its shares (1,775,600,000)

= $0.07
= 7c

now from how i view it there is no reason as to why a company with cash can not do this.

the only things i may be wrong about to which will differ the final share price calculation is:

- time period to mine
- in ground valuation

This calc allows a profit margin to its buyer remember i used $2/t ... and a time period to mine it for haws 40% share of 10 years (640,000,000t)

would appreiciate comments