if hawks nest approved, wpg could be $6

If Hawks Nest projects get approved, WPG will own billions tons of iron ore. Mining life will last much longer, In that case we can use PE to do the very conservative valuation:

We just use $81 margin per tonne:
3.3mt X $81=$267m before tax,
We use 35% tax rate (mining tax factor),
$267m X 65%=$173m

We use PE=10
It's around 1.7 billion

We use fully diluted shares 270m

1.7b/270m=$6.3 dollars/per share.

Remember $1.87 valuation just for PB project. So if Hawks
Nest get approved, watch the space, everyone.