here is a link to the Roth Report where they did the NPV calculation:

roth2.bluematrix.com

On page 9, is where they state their key assumptions for their calculations. Their NPV calculations gave a share price of $10 which they discounted to $4 until they had derisked the project further. Their calculations were also based on ZEN finding 13M tons of raw ore. We are of course way past that with they excellent drill results we have obtained in the last few months.

It is not hard to see where this thing could easily be $50 in the next 12 months. My target share price is $50ish based on the following 2 methods:

From a cash flow perspective, company has said they could produce 100k per year. The resource size supports this easily and for decades. At $8000 profit (feel free to change this number to what ever you feel is comfortable for you), your annual profit would be $800M, at a PE of 4, that is $3.2B over 60M shares, that is $53.

From an Insitu value, 100M tons, at 4% yields 4M tons of end product. At $9000 value per ton, that yields $36B in resource at an 8% buyout rate over 60M shares, I get $48 per share.

Sitting tight and waiting for the fireworks!

G.