I was trying to work out what MC RXL might achieve if / when...

I was trying to work out what MC RXL might achieve if / when they start mining, so I looked up PNR who are a fairly small JORC resource/ highish AISC producer.

Today their MC is $270 million.

So if RXL has a big JORC and a relatively low AISC what would the market say RXL should be worth.

I realise there are far more sophisticated ways of doing this estimation. But for the hell of it I guess $750 to $850 million. Say $810 million (3 x PNR)

If this is the case the SP would be approximately 45 cents. Assuming no more shares are issued.

Mind boggling. I’d be interested to know if anyone else has done some more rigours evaluation of what might be.