Courtesy of JTB on ASF
"RHI
40 Million shares @ $2.30 = 92 mil MC
20% of 130MT @ 58.5% Fe = 15.79MT of Fe
EV = $5.82 Fe/T
CUL
475 M shares @ 10.5c = 49.8 mil MC
30% of 68MT @ 56% Fe = 11.4 MT of Fe
EV = $4.37 Fe/T *
*Considering RHI's cash position I think a $1.50 premium is fair enough
Now if we only look @ HLX's 'Kumina Creek' target and the conservatively stated >100 MT @ between 57% and 60% Fe.
HLX
114 M shares @ 21.5c = 24.5 mil MC
30% of 100MT @ 57% Fe = 17.1 MT of Fe
EV = $1.43 Fe/T
If we were to use CUL's implied value per ton then we arrive @ $74,727,000 or 65c per share"
Interesting post actually,
Looks good at present price
Still like cul
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Courtesy of JTB on ASF"RHI40 Million shares @ $2.30 = 92 mil...
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Mkt cap ! $4.561M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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3 | 1035500 | 0.007 |
5 | 1777193 | 0.006 |
4 | 1900166 | 0.005 |
4 | 1408245 | 0.004 |
Price($) | Vol. | No. |
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0.012 | 325000 | 2 |
0.014 | 355796 | 1 |
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