Based on my calculations using the mid-point valuation of...

Based on my calculations using the mid-point valuation of US$456m on the new sensitivity chart, that’s a A$650m NPV for MYL’s share, which equates to 50c a share for China pit only, 26% of total known resource today.

Also doesn’t take into account value of other two lodes and exploration upside. Sure there’s a Myanmar discount but a sensible de-risked value should be applied here given they were smart to get two well connected in country partners on-board. One of these partners works with some big multinationals in Myanmar so they are hardly sharks. I doubt Unilever will want to partner with any unsavoury types.