ML,This is from Krypt's transcript of Gus's presentation"This...

ML,

This is from Krypt's transcript of Gus's presentation

"This project has the potential to make about $50 million a year profit to the company, after tax, and that?s obviously a company making event and we?re looking forward to getting it into full production so it will underpin the business and allow us to grow the company into a mid-sized producer over the next 5 to 6 years. This project looks very robust, as you can see from the NPVs and the IRRs that are there and will provide that underpinning."

Therefore valuation when PEN is in production (Lance only)

NPAT = $50m
2086m shares on issue
EPS = 0.02397
If PE = 10
Then share value based on earnings wld be approx $0.24

Also, check out post 5048750 on 14/2/10. Although some fig's are out of date, it will give you an idea of what the values cld be long term.

Hopefully the DFS will reveal all by the end of this mth.

Not long to wait.

Cheers