Times like these is why I love the sharemarket and for a stock...

Times like these is why I love the sharemarket and for a stock like CRK is a time my best dreams are made of where the fundamentals (already extremely attractive pre this correction) are going in the opposite direction of the market!

I am going to 25% of my portfolio in CRK if I can pick up some under 55c in the next week.

The contagion driven by debt anxiety in the world economy is driving equity prices lower as marginal players exit to pay off debt. What does this mean for CRK?

The valuation gets more and more and more and more............................ compelling as the AUD gold price gets higher at the time of writing $1470AUD per ounce. Means the PFS should prove a mine producing at current prices revenue $1470 times 100,000 , $147,000,000 even if BGF got the costs per ounce wrong by $100 and ounce and it costs CRK $650 per ounce to get it out of the ground thats 100,000 times $820 profit per ounce per year, year pre-tax thats $82,000,0000 or $49,200,000 after super profits tax (worst case again)! on market cap at the moment of $85mil PE less than 2.

As I have written before but got feedback that they should raise debt or pre-sell gold I assume worst case CRK are going to raise all funds for development via placements hence 240 mil shares on issue thats EPS of 20.5 cents per share on the above numbers which at 56c is a PE of 2.73.

Whatever worst case numbers I plug into my valuation spreadsheet the share price of CRK is allowing me to buy equity in a company that is the sort of valuation that normally reserved for private equity players the sophisticated and professional investors we all love to hate.