"Surely Lake Mackay will come on board sometime too, in which...

"Surely Lake Mackay will come on board sometime too, in which case those numbers will be doubled."

Denpal - LD will have amine life of 30 years I believe... I only calculated 10 years of value. As you can see, the PE is extremely low at the NPV, I would expect that with such a long mine life the share price would be double.

Also, NPV is discounted by time and inflation so the $3 is purely the total value in "today's" money. Again this means the actual share-price will be higher in time (inline with inflation, etc)

At the very least, the LD project alone is worth $3+ per share.