Speculate all you want, what is the fair value.Current market...

Speculate all you want, what is the fair value.

Current market cap is about US$70m, strip out the cash and you have an EV of say US$65m. So what do we pay for uranium players, $5/lb maybe - thats a debate of course, but it makes my maths easier. That means market is currently paying for 13Mlbs, of which 11.7Mlbs is already in the bag at Firawa.

So they only have to find another 1.3mlbs to meet the market expectations - I think even Forte could manage that.

So for every 1mlbs beyond that, add another $5m to the market cap or US 0.87cents per share or pretty much 1 aussie cent for each 1Mlbs of resource.