My back-of-envelope calculations say Ammaroo's enterprise value...

My back-of-envelope calculations say Ammaroo's enterprise value is about A$9 mil, it would be a bargain at double that price IMO. With the Aussie dollar below US$.75 and phosphate prices up a bit, our $344 mil NPV should be looking better. And this is at cyclical lows in the rock phosphate market. Given that, I'm struggling to understand the low share price but still think it's a strong buy. Time will tell, it always does.