Air, I am comfortable with our owning now 200 billion of the highest grade minerals on earth. Our end of these projects. At 10% of in situ value, we are at 20 billion in market cap. If you want to knock off 2 billion in our end of total constructions costs, i have no problem with that.
All of this, simplistic value thinking, which is the way the chinese think btw, has nothing to do with future commodity price rises. They don't do the american accounting thingies at all. They are value investors
So if in the next 5 years, the value of our metals goes up 25 percent, which I think is probable,my guess, that mean another 50 billion in appreciated wealth, and once again, that is another easy $5 billion in wealth to shareholders, at a 10 percent in situ percentage. This effectively places us far above the 20 billion dollar cap figure. Now we are what, 2.6B u.s. something like that. Robert Friedland does not try to cut things close like an accountant.
Always think big picture. These formulas and their people will come and go and come and go and come and go, Mindlessly.
This, btw, gives no credit for future discoveries or enlargements.
It also gives no credit whatsoever about what happens in an industrial metals bull market that really kicks into gear.
The guys in the early 1990s in computer software and hardware could not see it coming either. The could not see their profits going up 50 Fold, as the world changed. The number crunchers today will be swept aside, like children, spouting their finance degrees, as they get run over by the train of the future.
So why doesn't the market see this and think I like do? It is sleepy, groggy fully of negative people, skeptics, dummies, people who have never made a dime, people habituated to bear markets, people who cannot see past today's status quo. Plus the financial industry and its formulas are crooked and devious and they all will, btw, get cleaned out, get their clocks cleaned, as the world changes. A panic or near panic will ensue, with a tremendous appetite, a global grab, in about 3 to 5 years, for all things industrial metals.
Change is everything. These current people thinkers, are nothings.
