target price range 250-520 p -minimum 8 bagger

Based on my calcs, taking into account Chaketma Phosphate and Bir El Alfou Phosphate Projects, I think we will get valuation about 250p bottom level and 520 top level based following assumptions.

Chaketma Phosphate Exploration Permit

Celamin is in a joint venture with Tunisian Mining Services at Chaketma, which is contained within a 56 square kilometre area, and carries conceptual targets with potential to host 150 to 200 million tonnes of P2O5 at grades of 17 to 22%.

http://www.proactiveinvestors.com.au/companies/news/19098/celamin-holdings-moves-phosphate-projects-forward-in-tunisia-with-funding-advance-19098.html

The exploration target at Bir El Afou is 80-120 million tonnes at 17-22% phosphate (P2O5). The stage 1 production target is 1.5 Mtpa of +32% P2O5 (+70% BPL). The stage 1 Resource target potential is 23-27Mt of 17-22% P2O5 ROM.

http://www.proactiveinvestors.com.au/companies/news/14534/celamin-holdings-major-holder-lion-selection-acquires-more-shares-in-african-phosphate-play-14534.html

Valuation per share comes to 90p-200p only based on Bir El Afou, whose results due soon.

I calculated these based on broker's valuations for other potash explorers, kind of peer comparison. Can anyone confirm or tell me what numbers you come up with?