RE: New Ni-43-101?poubelle,
as far as FSY valuation is concerned I use to divide the company into 4 value-blocks
1) Valencia (which means Main Zone)
2) Namibia Uranium Assets (East Zone, Joly Zone, Anomaly24 + 6 license areas mainly in the hot-spot Erongo area)
3) Non-uranium assets = Namibian Resources (proposed spin-off)
4) cash/other assets
1) Parameter
- start in late 2009
- 2.5m lb U3O8 annual production
- 30US$/lb cost (starting 2009, each year 1US/lb extra cost= 2020=42US$)
- 85US/lb uranium price - flat
- 15$ NPI
- 12 year production with 32.5m lb
--> receive a NPV of 715m C$
2) is comparable to the uranium package of Xemplar
this is 125m C$ but lets cut it down by 36% to 80m C$
3) Namibian Resources has two advanced projects in Namibia with an inground value of about 900m$ but not 43-101 compliant - I would give it a 50m C$ valuation currently
4) if all warrants/options are converted + current cash + current placement we will have about 70m C$ in cash
1) - 4) add up to 915m C$ divided by the numer of fully diluted shares = 78.6m shares
915 / 78.6 = 11.64 C$ per share
Art