Valuation This was a significant undervalued company last year before the initial resource estimate:
- itochu bought 8% for $280m........i.e. valuing Flatreef at $3.5bn; hence 90% held by Ivanplats value $3.1bn. This additional 8% was purchased in Jun. 2011!
- kamoa cu project has 43bn ilbs of copper......if that is valued at 4c per lb in the ground, we have $1.7bn valuation.
- so ignoring the resource estimates announced today, and also the Kipushi Zn project we have a current baseline valuation of $4.8bn; i..e. $8 per share.
This is such an undervalued businesss......
Good luck all.