Its ironic tat you suggest my statement re Regis is "weird"...

Its ironic tat you suggest my statement re Regis is "weird" since it was actuall based on advice from Regis's own Resourse Geologist.
You better tell him he's wierd, not me!
Lol
But as for it being weird, I don't think so.
Current RRL SP quoted was 5.46 and the formula applied gave a 4 cent discrepancy @ 5.50.
Whats wierd about that?
I would have thought it was spot on, as too, the market.
But this formula DOES NOT APPLY to exploration companies, as previously advised.
I also used the word "notional" as opposed to actual for that reason.
I am talking about the re-rate occurring where a JORC resource is converted to a JORC reserve and prior to commencement of mining.
"Enterprise Value" applicabe at this stage is simply based on IGV reserves.
How do you evaluate the market cap of an explorer sitting on a reserve?
Their cap ex is an asset at that stage since expenditure on exploration will be carried forward as a loss and tax deduction against future earnings giving a very substantial tax break given in the first two or three years of mining.