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Message: Re: Jennings – Site Visit: Exploration on New Fronts - Crazy Analysts

Most of these analysts are just crazy number jugglers.

How comes that Jennings target price is based on a 0.73x NAV multiple ?

Why not a 0.99x NAV multiple or a 0.55x NAV multiple ?

And how comes that their target price hasn´t changed although they have included a 10% increase of ounces in their model:

<<<We have already included in our model a ~10% increase above the pit-constrained 3.4 Moz (0.6 g/t gold cut-off), which we believe could grow further still, as the deposit remains open in all directions. >>>

FANTOMAS

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