And will have a market capitalisation of over $400 million...

And will have a market capitalisation of over $400 million undiluted.

Based on your netting of $90 million per year it means that MOL is trading at a 1 year forward multiple of 4 times.

Seems way too cheap based on your calcs.

I personally believe you have got your calculations very wrong. Atlas Iron can't produce a cash surplus and how many tonnes are they producing a year? 8, 10 or 12?

Moly is producing how many tonnes a year?

;)
Nic