ERA energy resources of australia limited

she's got a pretty good balance sheet$412 m in current assetsand...

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    she's got a pretty good balance sheet
    $412 m in current assets
    and a back of an envelop calaculation on 29 m tonnes of reserves is about $400m touch wood
    so there is $800m
    market cap is about $1,472m

    just have to find the other $600m
    Jabiluka has about 68m tonnes of uranium
    at 7.5m tonnes per year that would get you about $800m

    book value is about $5
    trouble is mine equipment isn't worth much so long term assets are worthless I'd say

    from the '10 annual report balance sheet

    Current assets
    Cash and cash equivalents 187,670
    Trade and other receivables 72,850
    Current tax assets 12,704
    Inventories 138,552
    Other 579
    Total current assets 412,355
 
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