Interesting Tewks but i think you need to sit down with Mr T to...

Interesting Tewks but i think you need to sit down with Mr T to get a 'fair" valuation and evne then I could almost say....what is the point!

Things have changed since 2005 especially refinement to the technology that has dramatically increased the IRR.

The interesting thing is that only the blue and green chips trade at levels based on a valuation while stocks like APG can and do trade at multiple times their valuation.

I will concede that they do not hold their highs and drift back a certain percentage and that percentage depends on what else is in the pipeline and how long it will be for more news.

So with all respect I think there is no correlation between your valuation and what the SP will actually do in the next 12 months.

Sure eventually a valuation will start to have an effect on the sp but while a stock is deemed to be a specky, is dealing with multi nationals, has more and very sought after technologies in the pipeline and dealing in a multi billion dollar industry that is riddled with cross ownership the sp with completely disregard any valuation and trade at a far higher level fueled by speculation and anticipation of news.

If you relate that back to APG you can without doubt start talking 20 -25c upon completion of the Newcastle plant followed by another 5 - 8c rise based on confirmation of the plant working and then the SP would probably hold or even move up a little more as investors and traders pre empt a BHP transaction with APG or a offer to buy out the company.

Of course all of the above excludes gold which in itself can have an SP treble on anticipation of drilling or even with one or two half decent intersection.

So....hang on guys and you will be rewarded!