Number of shares issued: 250 millionJORC: 32 million poundsPrice...

Number of shares issued: 250 million
JORC: 32 million pounds

Price of U: US$ 113 lb (spot price)
AGS owns: 25%
Currency ratio: 0.83 US cents per AU$

Share value: = (32/250)*113*0.83*0.25= A$ 3.00 !!!

Consider following:
* Cost of production not included
* Australian dollar has peaked
* Spot pricing of U used. Not sure how accurate is this. For long term contracts they may get a lower value. But I honestly don't know where U price is heading.

Considering all this I think AGS is fully valued at the moment $2.30 seems to be safe bet. I entered when AGS hit $2 so I am holding until further drill results or find a better opportunity.