Hi Shoeb,I guess we all have our own personal valuation models;...

Hi Shoeb,

I guess we all have our own personal valuation models; on a previous post way back I did some quick calcs to arrive at around 20c - 30c (using P/E extrapolated out of the BFS for the gold).

You'll read this sentence quite a bit on the FML arena .. "then there's the nickel".

I read on another post that the salvage value of the processing plant alone is around 5c per share.

Mgt are committed to producing 100,000 oz per annum within a few years which even at $350 per oz profit is around 35 mil gross profit pa. At a p/e of say 10 puts the company valuation at about 350m (1bn shares roughly = 35c ps).

"then there's the nickel"

So even attacking the valuation at a few different angles, napkin style, a bracket could be 30c - 50c quite easily in time.

Please as always don't use HC for financial advice, estimates above are for your entertainment only.