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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (2567)	3/19/2002 6:29:50 PM
From: The Vet	Read Replies (1) \| Respond to of 39344

I don't know how you worked that out Claude. Aber should be able to get $100 a ct for their diamonds however lets assume a more conservative price per ct of $70 US (remember these are high quality and Tiffanys is marketing direct into the US). Then 15 x earnings would give a stock price of over $31.50 US, double what it is now. Earnings after tax should be at least $2.75 US and may be better. The recent purchase of Ashton diamond mine in Australia, with a very low quality diamond mine was for approx 14x earnings. Tiffany's itself trades at 28x earnings. All the finance is in place, the mine operator is Rio Tinto, an experienced and well financed miner and all permits etc are in place. They are already ahead of shedule and below budget and the mine will start producting in almost exactly 12 months time. What else do you want?