Cotton & Western Mining Inc. (CWRN)

[masscommuter]

Adjustments to Nov. 9 DD
This post must have had a zillion hits - nice work, still stands up.
a. Iron spot price is up, around 10%: $167/tonne vs. $152 in Nov. 9 DD
b. 50% profit margin makes more sense than 40% used in Nov. 9 DD
c. Taxes are not accounted for in Nov. 9, but 5 years of expense may result in a low tax bill.
d. Nov. 9 used 26% higher prod. rate: 135k tonnes/month vs. today's PR: "over 100,000 tonnes/month." Worth re-calc on that one?
e. Share BUYBACK: Let the shorts work in Bob's favor for a change!
Lower PPS = more and/or cheaper shares will be bought back!

I previously used sheer math to arrive at PPS of $0.36 in the end of 2011 considering everything planned by the company so far.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56464891

No gimmicks, no tricks, just reasonable numbers and basic algebra. This was without the buyback. Sure buying back 60% of the float can move PPS from $0.36 to $1.