TSO fair value? Short term target 30c, medium term 60c!, page-62

Around the ASX:

- Depressing days for PDI holders. I think they have had some decent announcements lately but always got sold down on news. The sell down today was blamed on manipulations and the Mali's coup.

Anyone remember the time when PDI was more than 2x the EV of TSO? I also held a small parcel but sold when I felt something was not right. Dont get me wrong, I still think they are a very interesting project. Anyway, I found some calculations about the resource at PDI and would like to discuss it here. This is the most positive one made by Wack:

1000m x 250m x 100m x 2.2 sg x 1g/t /31 = 1.774m oz (I think he should divide it by 34 instead of 31? So it would be 1.6Moz).

Wack also use an EV/oz of $400 (I used $180) and 40% risk due to mining jurisdiction, to come up with a MC of $425M. PDI is currently valued at 65M.

And this is Corgi computations basing only 1 out of 13 faults:

123david321 said he should extend the length to 1800m?

Anyway, lets say TSO = 700koz for only 1 out of 13 faults and a MC of 88M. If PDI (65M, 1.6Moz) is cheap then we are super duper cheap?

- Dissapointing days for another very interesting goldie, MEU, drilling was "expanded" (they should say "delayed"). Their explanation was: "For various logistical reasons (including driller availability, crew rotation, required drill rig maintenance, and supplies), drilling has temporarily adjourned and is expected to re-commence in ~ 2 weeks time".. Again, I cant help admiring the efficiency of our team when I read this type of announcements.