Valuation Estimate

Thought I would start a new thread on the subject of our market cap, as it is no doubt a hot issue in the coming weeks.

Although I like your enthusiasm @grissy, suspect your model is a bit high at $4/GJ. Perhaps $1/GJ is a good basis for a (conservative) valuation in terms of income after all costs.

Your 175PJ reserves may need discounting also depending on the Proved, Probable & Contingent split.

Then you need to deduct our debt of $85M.

Based on the target figures used in the GAP (Slide 8 of the 27 Oct 2015 announcement), and excluding the purple exploration figures, my very rough calcs come in at ~$200M.

As those who have read my posts over the past few years know, I am 100% behind RC and the team, but I think we need to be prudent in what might be a realistic valuation now by a 3^rd party. The figure above is based purely on what we “know” now and the NGP being completed… have no doubt RC has plans to multiply this by many times in the coming few years.

Happy to be corrected by those who are more learned than I however.