RE: Back to $1There are just over 50m tonnes of iron bearing rock on the Chilean properties yielding just over 30% Fe = approx 17m tonnes of iron at $120/t giving a gross of $2bn.
I have no idea how much it costs to get this stuff out of the ground - or how long a mine of 50m tonnes would take to give up its riches, but an asset value of $1/share means ANX only needs to get $125m out of the gross proceeds of $2bn - ie 6.25%.
What it needs is a really good partner who is hungry for a deal and doesn't take Lew's pants down..........But if we assume they do a deal similar to the one with NIS but in reverse: give away 60% share in return for a fully commercial mine and we assume that mining costs = 60% of revenue the numbers go like this:
50t x 30% yield x $120/t x 40% gross profit x 40% share = $288m or $2.30 per fully diluted share.
If PC gets written into the share price it should be good for quite a bit: 60% share of 200,000 oz at $600/oz in profit/oz = $72m or approx 75c per fully diluted share.
If there is an announcement of a deal with a Chilean major and they get PC up and running we should be in for a good ride during the 2nd half of this year.