mention byy robin bromby, page-10

Dogabone at .80c it gives cnl a market cap of about 33 Million

Let's assume the MOU with international fertilizer becomes a binding agreement and let's assume cnl achieve it's target of 25
Million tonnes of contained phosphate at 18% by August 2011

That would give us 15 years of production at 1.5mtpa.
Cnl's 37.5% is about 562,000 per annum. At Current prices less costs is about 62 million is gross sales. Tax free for five years with a guaranteed buyer at market price.

What would be fair value. I'm not an expert in these calculations but .80c seems darn cheap.

Thoughts anyone