From the Canadian NI 43 101 Technical Report dated 31/12/ 2011, released to the ASX today,the NET PV/share from the report for the LL tailings project alone are;
CASE: NPV USD,NPV/share USD,NPV/sh AUD
Base case 158.3 0.26 0.24
Downside case 124.7 0.20 0.19
Optimistic case 201.3 0.33 0.30
Data used: PGI shares 619M, AUD 107.01 cents US
The report has some conservative estimates and little downside risk as far as I can see, so I would expect the SP to go closer to the optimistic case and, if you take in PGI's other assets and future exploration/development prospects, the SP may go higher. Looks like a safe buy at 19c.
It will be interesting to see how the Canadians value PGI when it lists in Toronto.
canadian report
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