Sorry for the triple post but this is ridiculous. "At 31...

Sorry for the triple post but this is ridiculous.
"At 31 December 2015, the Company has no options on issue." (Final Report)
This means the fully diluted market cap is approx $22 Million at 23 cents.

I have calculated (through an extremely conservative approach - specifically: not including mineral exploration costs, or 'other assets') Net Tangible Assets at $27 Million.

Profit last year (excluding impairment cost) - $6.2 Million.
Net Profit - $2.6 Million.

This doesn't take into account any of the new exploration work, and even if it were never to produce another ounce of gold, it would still be a buy.

I don't like to use 'cappers' as an excuse for a low SP, but to be honest I fail to see how else DRA is below 30c.