Right... so just more wishy washy subjective stuff, that adjusts...

Right... so just more wishy washy subjective stuff, that adjusts downwards your previous $2 valuation.  

OK.

"Mt C - poor quality, small asset at the high end of the cost curve. Will struggle to find a buyer as time goes on"
"SDV execution risk" 
"Management Risk" 
"3 projects in 3 continents" 
"It's all well and good having $400m in the bank, but I've seen companies blow a lot more money than that" 
"ambitious timeline"


Riiigggghhttttt.....

People can decide for themselves whether the entire company's assets are worth more than the top paddock at SDV -   because at $1.80 per share, the enterprise value is only about AUD $300 million!!!!!!!!!!   Do you think we couldn't sell the bottom paddock for that if we wanted to?!?!   But we don't want to, because it will bring in hundreds of millions per year once up and running. 
 
DYOR people!