RND 2.87% $2.15 rand mining limited

NST Values RND/TBR at $716M - Current Mkt cap $191M

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    NST current market cap is $1,398M and their total operating EBIT for the year was $185.8M.

    From the annual report NST operating EBIT for their 51% interest in Kundana was $71.7M - or 38.6%of total EBIT.
    Therefore the 49% of operating EBIT owned by RND/TBR would be $69M.

    The $69M as a percentage of the NST operating EBIT would be 37%.

    37% of the current NST market cap adjusting for cash($167M) would be $456M.

    Add in the gold held of $260M and value is at $716M

    RND/TBR might loose points for not being diversified but the EKJV is the best mine NST have got.
 
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