rough estimate of what its worth eps n pe wise, page-4

sorry in a scenario of 3000 tonnes copper and 70,000 ounces gold, I shouldve added 21.1 mill profit from gold to the profit and not the revenue only!!!

the revenue for 3000 tonnes is :

3000 * 2200 (convert tonnes to pounds) * (3.50USD price - $2.00 USD cost) = 9.9mill USD per qtr

= 39.6millUSD per year

= 43.56mill AUD (using AUD:USD 0.90 exchange rate)

So add profit from gold of 21.1mill to this:

we get overall profit of approx 65mill

65mill/1000 mill shares + options

= 6.5cents

thats based on 3000 tonnes copper and 70,000 ounces

4000 tonnes copper + 70,000 ounces :

4000 * 2200 * 1.65AUD (net revenue after costs for copper)

= 58mill profit based on 4000 tonnes

add now 21.1 mill for 70,000 ounces gold

= 79mill

79/1000mill = 7.9 cents per share

if we use 100,000 ounces and 4000 tonnes

we get 58mill plus 100,000 ounces * say 350USD net revenue = an extra 35mill profit

So 58mill for copper + 35mill for gold = 93mill

93mill/1000mill

= 9.3cents per share

PE 5 gives 47cents valuation

PE 7 gives 65 cents valuation

PE 10 gives 93 cents valuation

Note ive assumed a 900USD gold price minus an overall cost of 550USD to be conservative

But for now tghe market should only value the coy based on its copper given that its a bear market, so based on 3000 tonnes copper

that is,

4.4 cents per share

PE 5 gives 22cents

when proddy goes up to 4000 tonnes later in the year we'll get 5.8 cents per share which is 29 cents valaution given PE of 5.

But Im using costs of $2USD per pound of copper and management are saying that over time costs will reduce to $1.30US!