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gpf95

10/07/13 10:28 AM

#2336 RE: gpf95 #2335

My estimate of cash flow and possible share price based on October presentation. I used the average tonnage between Max and average as I suspect the company would mine the enriched zone first.

estimate does not include the sale of ce,la,sm,gd,ho,Tm,Be,Hf from October presentation using metal price per ton and other est prices
EST Annual
production/yr *
tons Current
Price $/kg Annual Cash Flow
ZrO2 24000 $1,625 $39,000,000
Nb2O5 3200 $200,000,000 *
Dy2O3 727.5 $907,000 $659,842,500
Y2O3 5184 $18,140 $94,037,760
Nd2O3 1550 $63,490 $98,409,500
Tb2O3 88.5 $907,000 $80,269,500
Pr2O3 494.5 $126,980 $62,791,610
Eu2O3 20 $725,748 $14,514,956 est price
Lu2O3 55 $4,536 $249,476 est price
1,249,115,302
$999,292,241 20% discount
Productiion cost est including
salary Tons 35319.5 250 $8,829,875 op Cost
$990,462,366 cash flow
0.65 35% Taxes
$643,800,538
$212,454,178 Finance Cost Est 1/3 of cash flow
$431,346,361
68,000,000 common shares
$6.34333 EPS
$50.75 SP P/E RAT 8