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11/07/10
23:52
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I've been reading through also. There's a lot to digest!
The Geocoal report is very interesting:
Page 107 provides valuations of the Boikarabelo mine:
Using exchange rate of AUD1 : ZAR6.62
Cashflow Approach:
R5.059 billion = AUD0.764 billion
Cost Approach:
R5.556 billion = AUD0.839 billion
Using this valuation & current shares on issue of 164 million = 0.839 billion / 164 million = $5.11/share
The valuation includes estimated capital expenditure.
I think we need to discuss this!
Comments??
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