Harry,
The estimate on the Forum across the road was misleading.
EPS / PE's will work when assessing production forecasts / revenue etc. JORC is a little different.
If we are to assume :
~ Iron ore component is 50% of ADY, ie share price 10c
~ Iron ore Price $79.55
~ Exhange at AUD$1 = US$0.95
~ 10% Assessed Value
Todays share price 19c (10c ADY / 10c RLL) justifies only
79,181,186 tonnes of Ore at 18% grade
We have alot more than 79m tonnes in this JORC (Japonesita and Mariposa) alone, without considering the other 7,000 hectares.
We are very undervalued in terms of share price, we need ink on paper.
"Lithium" who said Lithium - thats another story...
Have a good weekend...
Ed
Harry, The estimate on the Forum across the road was...
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