As someone said 89% of EXT is held by the top 20 share holders, so any final price, if there is one, will be decided in a few board rooms BUT a ball park valuation based on the Chinese offer was $10-$11 per share. With a 33% resource upgrade now, does that mean the ball park is now $13-$14 ? (500 000 000 lbs x $7/lb in ground value = 3 500Mil / 243Mil shares = approx $14/share)
I know valuation is a contentious issue but at present the market is not doing a good job of valuing this asset. Seems to me like a good buying opportunity with considerable upside when the mining license is granted & the resource is substantially upgraded this time next year.
No other place I would rather have my money at present.
The only risk is someone in Germany finds a way of producing controlled Nuclear Fission using bean sprout extract (organic & GE free of course), lental burgers or something of the sort.
EXT Price at posting:
$7.66 Sentiment: LT Buy Disclosure: Held
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