Guys,
Can someone please check my numbers below. I appreciate a sanity check. My numbers are simple, but they might explain the share price increase and also highlight the upside.
Two methods,
1) The attach doc link (page 5) states an average of $0.30/Lb EV/resource. At 48,000 tonnes = 48,000 x 2200 x $0.30 = $31.68M
http://www.sandfire.com.au/download.cfm?objectID=53D367E0-1AA0-353A-5A7039E0F514EADA
2) 48,000 x 8000 (price per tonne) = $384M discounted at 10% = $38M
Current market Cap is approx $13M. So looks even at current levels cheap, with further drilling for upside.
As I say my calculations are simple, but would like any constructive feedback, as this will help me going forward.
Regards,
Desie101
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