I’d look up average PE on ASX first.Then look up mining PE...

I’d look up average PE on ASX first.
Then look up mining PE ratios.
It’s not 4-5.
PE of 15 is closer to average.

Mining often trades higher, by decent margin.

So, depending on what you research and discover you can calculate your own under or over valued assumptions.

Theres also infrastructure and other assets (the 1.25million pounds we have), future growth, future uranium price appreciate etc that can form a more rounded picture.

I could make an argument that just the 1.25million pounds we bought at roughly US$50 profit per pound is by itself trading at around average PE ratios for ASX200 listed stocks.

You need to research a lot deeper. Your initial calculations are too basic and too conservative.

Im not saying this is a buy. I hold having trimmed some since 2019 purchases, but she’s currently on shorter list and the uranium market has been slipping lower into an abyss! I have confidence it will turn.