bottom valuation $260 million 65 cent share

Discovery metals cash cost after when production is stream lined should be around $1.50 pound. DML would make around $52 million profit. If you take away $30 million for repayments the company is left with $22 million.

Using a pe ratio of 12 DML would have a valuation of $260 million minimum.

In a different light. If the company is not worth that amount, its worth nothing.

The point here. Would the Chinese take on $170 million worth of debt for a company the market
values at $56 million.

Would the creditors trust a Chinese company to run DML?

Today the Chinese would have to pay $170 million for the debt plus $60 million for the company.