Valuation, page-29

Getting back to the thread. Trying to Val MUS after one Auction is difficult. Of course many once of marketing /road show expenses. Many other significant expenses in developing strategy. But the most difficult is you cant really value a company based on potentially 1/4 to 1/3 of its revenue. However if we anualise the revenue and say we generate EBITDA of 60M -75M and we have 10 -15 year mine life. Not taking into account acquiring more leases then maybe the Ruby asset is worth 500M to 750M.
Underpinning this is that Ruby mining is about a simple as fishing.