Sorry to post on my on petard...
But I just did the following quick calculation.
Kapulo Feas - $141M NPV
Dik Feas - $104M NPV
Cash at IPO - $120M
Total - $365M
Shares on Issue 143M = $2.55.
Now one might ask, haven't they been busy since listing, no idea I would say as there isn't any info coming out of Howard Street, but I believe Dik has been running since June 2010, and from the last announcement they should be producing at least $2M excess cash a month, which is around $30M extra. This would possibily help with funding activities and therefore the above calc stands. If you include some conservatism in the feasibility studies, and maybe some potential upside from the 7,500km2 of open exploration ground you can see where I get my valuation. Infact in June this year Cormack put a $3.75 valuation on them.
The big question then, is why are this company hiding their light not just under a bushel, but they are not letting on their is a bushel at all.....
MWE
mawson west ltd
