re: bfs due monday

Too much emphasis/stress being placed on the bfs.
Roseby is viable at Cu US1.50 let alone current spot or long term bear estimates ~US2.50. Sleep easy folks. The project is a goer. And what if copper is at 5-6/lb come 2007/2008 like some gurus are calling ?????
Now for some simple arithmetic: Production scheduled for 2008 at Cu 110 million lb/year.
Opex ~ US0.80/lb
At spot Cu profit is US2.60/lb = US286 million A$381m
At Cu 2.50 profit is US1.70/lb = US187 million A$249m
Capex i understand ~ 250m so lets lets dilute the register by another 500m shares worst case (assuming we go down that path).
Total ~ 750m shares with annual ebitda ~ A$250 million using lt Cu price assumptions. Allow a crude and inflated $75m for taxman and we get EPS ~0.23 per share multiplied by a conservative PE of 8 gives me a long term taget of $1.86 +++
Dont need to do any calculations for the gold production which will add another ~A$10 m/pa or the potential of magnified profits at top end cu prices.

Then there's the prospect of Xstrata swallowing us up whole or some more positive drilling results . Any way you look at it Universal is way too cheap imo. Market cap just over 50 million with likely production 18 months away is a joke.
Always on the look out for some value. Reminds me somewhat of the supermarket a year ago.
Might add some more trading stock to the core if the shakeout continues.
Had a thought that maybe it was the locals exercising their 0.17 options last week (another crude vision).lol

DYOR cause im an unlicenced and unqualified mug punter.