RE: Possibilities20 Nov 2017 16:43
The 10,000 is equiv to �4.50 which seems ok as basis for an optimistic but plausible forecast
If using 55000 tonnes per annum, i have not checked but guess that lasts for 10 years on current resources
So the 15X multiple would need to include implicitly Touro, expansion of PRT resources, or a further find.
I would knock off x1 to allow for Astor repayment - 2018's profits loosely.
The ANTO multiple is higher as they are an established producer
My guess from the above is a multiple of x10 less the x1 = x9 - just based on current PRT - don't think the market would give anything for Touro for 2 years anyway.
Finally i knock off 20% for tax.
Implicity i assume debt and interest is wiped out. Depreciation is allowed for as you use an AISC number.
Then have 220,275,000 GBP x 0.8 x9, say �156m, a mere �14.50 per share.
Happy days if it comes true