Given that the average grades of stockpiles appear to be in accordance with JORC, Fosters may have been generous with their $1.00 valuation released immediately after the jorc... that gave mc of circ $160m based on the issued cap then.
The current mc is only about $400m ...even after 'progress' since the jorc ...ie mining licence, capex on mining and production infrastructure (over $300m) , mining costs incurred to date, and of course the value of stockpiles.
So the Fosters EV of $160m then compares with virtually nil EV today based on current sp.
CDU Price at posting:
$1.68 Sentiment: None Disclosure: Not Held
