ANW Valuation, page-134

Its expected that Tin Spot will hit $25K US in 2018 ( Some are saying $US 28K - US32K)

With the existing Spot Price of US 20K as soon as the Tailing Dam has been relined with HDPE ( 6 weeks once we have a break in the weather) we will make the following.

The Cash Profit is approx $5.7M each year
A US $5,000.00 increase in Tin Price will increase profits about 3.5M PA to AUD $9.3M PA.
Some may value ANW without T1 or T2 or Cobolt at $60M to $100M

Now lets add T2

For T2 2800T at $US 25K is AUD $91,000,000.00 Sales per annum. ( This is conservative)
Profit expected to be approx 50% of sales.
Therefore combined G2 + T2 will generate around cash profit $55,000.00 PA. Some may value this at $400M to $600M

Plus there is significant exploration, LOM upside and grade recoveries upside.

Now how much is that Cobolt sugar hit worth???

We are seriously undervalued. IMO we are worth $80 M now without Cobolt and without T1/T2.

We just need an announcement so say G2 has started the 6 weeks works program.