Ann: Quarterly Activities and Cashflow Reports , page-8

re: Ann: Quarterly Activities and Cashflow Re... Fluff
Due to the fact Elk suggest they are very close to finalising funding there is little point throwing around values. If Elk fund all or part of the project through a JV as I think they will, then we will have a clear market value for the asset in the near term, the quality of the partner/s will determine by how much we trade at a discount/premium to the transaction.

I expect the NPV would be just north of $400mil or just below $4ps.....The question then becomes how much of a discount would you expect a deal to be done at...Personnally I would be happy with a deal that valued the asset at $1 ps as I beleive the market would re-rate us to around $1.50 in the short term after including the other assets, forward strategy, this of course assumes a quality partner is brought in....Anything above $1ps would be a bonus in my eyes.....

Cheers