valuation

There's a new broker report for Venus Metals (available on the VMC website). The report covers VMC's Yalgoo Iron Ore Project. The report includes a peer analysis (see below), which shows how undervalued FWL is compared to peers...

Based on the peer average, FWL's magnetite resources should be valued at $1.37 per share (or $0.69 using the 50% discount they've used in this report). This approach, of course, doesn't attribute any enterprise value to the value added through the pig iron plant.