Which would effectively price the company at 40cents a share as the cash/FOB NPV is about 60cents a share.
Approx 470mil tonnes of 100pct iron in the ground x 175mil shares (fully diluted) at 40cents a share = 14.7 cents a tonne of iron in the ground. Not much when you consider the proximity to EXISTING RAIL / COAST and the stated expansion plans of the majors.
$1 would be an absolute bargain!!!
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