75 cents is certainly a good short term share price goal.Once in...

75 cents is certainly a good short term share price goal.

Once in production, I don't think it's unreasonable to expect even more upside in the MC

Forecast average EBITDA $44.6M US or $55.75AUD
AUD $27M debt. Assuming DFS forecasts are met, only a small cash balance at commencement of mining, and 440 M shares on the register:

57c = 250M - EV of 277M (= x4.9)
68c = 300M - EV of 327M (= x5.8)
79c = 350M - EV of 377M (= x6.7)
90c = 400M - EV of 427M. (= x7.6)
$1.01 = 450M - EV of 477M. (= x8.5)
$1.11 =500M - EV of 527M. (=x9.4)
$1.23 = 550M - EV of 577M. (=x 10.3)
$1.35 =600M - EV of 627M (=x 11.2)
$1.47 =650M - EV of 677M. (=x 12.1)
$1.59 =700M - EV of 727M. (=x 13)

The above figures include a typical range of EV/EBITDA multiple for mining companies. We could be having the $1 party a lot sooner than expected!!