RE: RE: News on Afferro Mining Inc. On the rise, AIM close 91 pence +6.69%
"Afferro's portfolio includes the 100% owned Nkout, Ntem and Akonolinga iron ore projects. It also holds a 70% interest in the Ngoa project, an exploration target bordering Nkout. Nkout comprises a National Instrument 43-101 ("NI 43-101") compliant Indicated Mineral Resource Estimate of 1.19Bt at 32.9% Fe and an Inferred Mineral Resource Estimate of 1.33Bt at 30.3% Fe."
The NKout Resource 2.52Bt x 31%, is 781.2Mt Iron Ore x $100/t, is $7.812B discounted to 5% is $390M
So NAV at 5% is $390M for NKout only; plus
Balance Sheet Cash $90M for a Total Valuation $480M, Shares O/S 105M for Target Price $4.57 or 290 pence at exchange 1.57 (112M F/D SP Target $4.28 or 273 pence)
Today's MCap $144M at 91 pence or C$1.43, Lot's of upside!
Looking forward to Merger Monday, cheers, Mark