question time, page-2

Quantifying the length of a piece of string?

I'm not knowledgable, but here's a guess at how one may wish to approach (jump down my throat those with the knowledge):

Take $61bn as your starting point and for ease of argument straightline it over 40 years or whatever the life of mine is, so say $1.5bn per year (which is not right, but let's knock out a pretty sum).

Find an established nickel miner and apply their NPAT margin against the $1.5bn.

Divide by the number of shares.

Get an average of P/E ratios from establish and apply it to the value above.

And that will give you a rough as guts dream price on just the Isabel holdings. You'd think as long as the other projects were profitable you'd only go up in value from there.

Conversely, do the whole NPV calc on the $61bn. Find a nickel miner again for the discount rate, growth rates, capex %, working cap etc.

I'd love to hear a more scientifc approach too.

Arriving at a share price sans Isabel is a relatively simpler task - take the current share price.........then subtract the current share price!