Well,well since you requested comments :
In order to forecast EPS based on hypothetical forecast revenue, even if one accepts the forecasts, one would need a reasonable estimate of shares outstanding.
Let's look at the financing that will be required
1. Current negative Working Capital will need to be covered at some point.
2. How much is needed to complete any rehabilitation and development work ? Working capital to operate with until there is positive cash flow ?
3. Forecast shares from settlement of convertible notes ?
Without factoring in shares required for (1) through (3) I am a bit confused how you can forecast EPS ?
Also timing is an issue, is there sufficient information to make a ball park estimate of whether the timing of the revenue projections can be met ? Has this management met prior projections ? Is there a reason all projection do not contain much detail ? Has a preliminary economic assessment been prepared by an outside firm ? Is there a reason the press releases on assay results contain so little detail ?
Also, looking at management salaries and G & A costs,have you factored in shares to cover these costs as well ?
This may be a great speculation after a 5000 to 1 reverse split as owning a mill is a great asset for a junior mining company. However unless mistaken, seems very hard to forecast EPS without a reasonable estimate of dilution required to reach the revenue forecasts.
