IBG value ?

I am curious to see what Market Cap IBG is worth -

1. Estimated NPV as per BFS is - $650 Mill US approx on production.
2. Say we take 33% of that - say $433 Mill US approx.
3. Upon ML approval and funding talks if we give a discounted rate of 6 to 1 ($433 divided by 6) that gives us $72 Mill US NPV
4. So $72 Mill US Market Cap which is approx $100 mill Aussie and we are currently sitting at around $27 Mill

Room to move in my opinion - $100 mill aussie gives us 20c per share based on current shares on issue (taking into account the above)

At some stage Market Cap Value has to increase as risk's dissipate.

FYI - (We are currently trading at a discounted rate of 30 to 1) aprox..

GLA and DYOR.