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Gold/Mining/Energy : Canadian Diamond Play Cafi

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To: Rocket Red who wrote (1648)12/9/2003 2:42:18 AM
From: que seria  Read Replies (2) of 16206
 
Kaiser is such a lucid writer. But what does "implied
project value" mean? He explains it this way:

Kensington's FALC JV is still carrying an implied project value double that of Shore Gold's Star project, which is currently at $73 million compared to Kensington's $141 million. (Implied project value is fully diluted capitalization multiplied by stock price and divided by the company's net project interest.)

If "fully diluted capitalization refers to the company's market cap, it already takes into account the stock price, so why multiply it by the stock price? Why not just divide the company's market cap by its net project interest to get the implied project value? Unless it's a typo, I'd like to know what I'm missing. Anyone?
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