There are a number of approaches to valuing mining shares. One is to apply an appropriate price/lb for the metal classification(resource or reserve). I have an estimate for copper that I've checked with a mining expert. Another valid approach is to use a comparison with a recent acquisition such as described in a recent post:

http://agoracom.com/ir/CopperFoxMetals/forums/discussion/topics/561985-lower-expectations/messages/1768511#message

which is currently the fourth highest top rated message. There are some numbers and statements in that post I'm not sure of so I'd like to present them to the hub for clarification. Specifically :

A Global Giant called Anglo American had 100% (now 81.9%) of an Asset called Quellaveco and they sold 18% of it for 900 million. This was not based on share price or Feasibility results, they don't even have a feasibility.

So what do they have, yes a resource estimate : 823 Mt @ 0.44Cu (3.68 billion pounds of copper) and 183 Mt Inferred at 0.45 (828 Mil pounds)

I've tracked down the source of that information to a report on the Anglo American website from which I've copied the following table:

See the photo section for the table as I was unable to submit with the table embedded in this message.

The Anglo data indicates that at least some level of feasibility has been done to create reserves and a mine life of 28 years. The resource values show actual metal in kt(kilo tonnes) not lbs. So the inferred amount would not be 828 mil pounds but, if my math is correct, 1.82 billion lbs( 828*1000*1000*2.2). If so then the 823 Mt @ 0.44 CU becomes about 8 billion lbs of Cu. The resource numbers are less important anyways as the proven and probable total of 5914 kt becomes about 13 billion lbs Cu. If I'm correct then that is what Mitsubishi paid $ 900 million to get 18 %. I'd like to get some feedback on my numbers. If wrong then I apologize, if I'm right then I'll post my estimate of the CUU share value. Regardless of the outcome, I believe the current share price is undervalued and bought more today. One more thing, I haven't read any mention of the gold reserve number from the BFS but it's substantial and should be included in any share price estimates.