Been doing some sums, re the resource at Double Magic. Based on...

Been doing some sums, re the resource at Double Magic.
Based on what may be found under the ground

Resource Size= Roughly 30million Tones (700Metresx80mx400Metres)  +/- 10%

Conservative Average Grade if positive results  of   2% Nickel
.7% Copper

Copper Price of $USD5,580  ($AUD 7520)
Nickel Price of $USD9,370 ($AUD12626)

30million tons x 2%nickel = ($252 Ni per Ton)x 30Mill= $7.5Billion
30Million tons x .7% copper = ($52.50 Cu per Ton) x 30million= $1.575billion

Total resource of $304.50 per Ton

EXTRACTION COST
Typical Extraction cost per ton for a open cut mine is around $30-50 Per ton, sometimes less
So Resource - Extraction would be $304.50- $50 = $254.50

TOTAL RESOURCE VALUE = $7.635BILLION

Now to get to this level would Involve a JV, In which the partner would fund the $300-600 million dollar mine.
Including truck fleet etc...

I would assume It would be a 70/30 Split, BUX retaining 30%.

30% of 7.6Billion = $2.29Billion Potential Profit
JV Agreement May be Both Parties Take inital Cost of Mine out of the first years production profits

So WORST Case @ 30million Ton Resource = 2.29Billion Profit - $300million for half Mine Establishment

$$1.99Billion Profit from Mine over its life for BUX @ 30% Ownership
$200Million per year over 10 years

Should Put market Cap at around $2.4Billion-4Billion Dollars
Assuming another CR or two, I cant see this getting to more than 160Million shares

$2.4Billion/160Mill Shares= $15 Per Share

A BUYOUT of a similar share price Would be roughly the same price also I believe

Any Thoughts??