RE: Fair market valueI love your calculationS; However, there are some variances one should consider in the numbers.
Firstly, what is the latest 43-101 reserve calculations from EMC?? The 200 mil. number you quote may be substantially less !
The number of shares issued is 90 mil and not 81 mil.
However, you are on the correct track with your fair share value.
My personal 43-101: 110 mil. @ $21.00 per lb. = $2.3 bil. divide by
90 mil shs. fully diluted = $25.66 per share.
$21.00 in ground is realistic for N.America, if you consider - - - One has to take into consideration that EMC reserves are spread out into 16 locations within various U.S. states. One would need more than one mill now located in Texas, or bear the transport costs. Start shipping Uranium around the country and see how the population would react.
Paladin and Areva paid over $30 for the U resources of Summit Energy in Austrailia recently. Sooooooooooooooo. who knows? I love $24.