The Strachan report on VMS out today is a great read.
http://www.ventureminerals.com.au/documents/StrachanCorporate-VentureMineralsFebruary2009.pdf
Take home points for me were....
"Strachan Corporate calculates an NPV of $100 million for a project to process 24 million tonnes of magnetite ore which, when compared with the company’s current market cap of $9 million, shows room for share price appreciation, even after dilution for additional equity requirements."
"An estimated processing cost of $76/tonne of concentrate to achieve a magnetite concentrate, at the Tasmanian port of Burnie, leaves an estimated operating margin of around $94 million pa after co-product credits."
"The company’s current market capitalisation represents just $0.30 per tonne of Inferred Resource, when $2 per tonne would be a more appropriate metric, based on 3% of an
estimated insitu value per tonne."
strachan report a great read
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