Yes, it's good to finally see an attempt at working out a realistic value for Extract.
The main things I noticed were that:
1) the production costs are much higher than normally bandied around ($29/lb instead of $17/lb as posted the other day) yet the DCF valuation still came in much higher than today's share price.
2) it won't take much of a resource upgrade to attain $6.60, and there's plenty of upside if the resource exceeds 300m pounds as some argue it will. The only negative implication (if there's anyone conservative reading) is that working backwards, 108m lbs should only equate to a share price of $3-4. I don't think it's likely, but for the sake of calculating risk, that's how I'd weigh it up... risking $1.70 per share to make $2.30+ per share.
Z
EXT Price at posting:
$4.63 Sentiment: None Disclosure: Held
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