stock analysis on rms, page-14

Have now checked out this VectorVest report.
Interesting to see their methodology.
Seems to be based on latest earnings (or possibly a projection?) and growth rate based on latest earnings.
Hence it does not take into account the reserve position of WD and probably excludes completely the MM value.
So assuming WD continues to deliver with earnings rise at 37% into the future, I think it was, then their calculated value for RMS (based on WD alone) is about double current price.

Value for WD may be a reasonable one giving recent high grade drills that seem to ensure high grade mining for a few years yet- however there's some risk in assumption that this will keep going for ever. Better I think to estimate future earnings for as many years as it seems on current data likely to continue, and their current value.

Not clear if current cash is factored in to VV report- but it seems probably not.
Probably no value for MM.
So these could be added for a better valuation.

So all in all, just on above considerations looks like current price has a good margin of safety.