I was a little rushed in my excitement yesterday, of course it's not 350 just for the open pit....
however.. a serious question for the valuation connoisseur...
value for exploration ground [not npv's, insitu multiples or share price targets] in circumstances like these always seem so arbitrary to me
9 times out of 10 they are delivered with zero justification for how they become value X (in this case $85m and $25m)
I get the logic of the Kilburn method, but is it used? if not, what was used? how did bell's analysts arrive at 85 and 25
you can't screw too much with the other parts of the valuation, but the cynic in me always says the "exploration value" is always just enough to make the number support the call
in this case, bullish [because we want to be there] but not so bullish that we sound pie-in-the-sky
I'd appreciate it if anyone would like to enlighten me ?
SIR Price at posting:
$1.32 Sentiment: None Disclosure: Held
