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bmo covers legend

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    http://www.lgdi.net/images/docs/27100860604.pdf

    Interesting valuation - BMO recommend a NAV of US$380M for Legend, based on :

    Transport : Trucking to Mt Isa, rail to Townsville port.

    Cost Schedule (mid-phase - 5MT/a of beneficiated RP)
    Mining A$20/t
    Beneficiation A$20/t
    Port and handling A$15/t
    Road transport A$25/t
    Rail A$60/t
    = A$145/t (US$94/t)

    Estimate beneficiation during 2011/Q1, before that speculated shipping of unbeneficiated RP.

    Long term estimate RP price US$150/t (post 2012).

    Interestingly, BMO don't seem to be aware of Wonarah.

    And that's with all of Legend's capital expenditures as well. This draws a line in the sand that Minemakers will need to be revalued up to, i.e. at least Legend's current cap of US$190M (A$290M).

    Arguments against?








 
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