Hi ss222, thanks for the reply though i note that if 70,000oz is worth $70mill then that puts a value of $1000/oz on a Jorc resource. I would have thought this to be on the high side my reasoning being that the figure i stated for Oil ($10/bbl/1p) is quite conservative and should be generally easily achievable clear profit by an oil producer.
As such i'd have thought that a similar figure for a goldie might be more in the $300 to $400/oz value range for in ground reserves as their potential clear profit, especially in the early days of a companies life.
If KIN becomes a producer and continues to prove up more reserves then the market would be more 'generous' with their valuation of such in ground reserves. I'd be astonished & delighted if KIN proved up 70,000oz and was then valued by the market at $70mill so soon into its life. Of course the potential of the area & the whose who of neighbors may help there.
KIN Price at posting:
29.0¢ Sentiment: LT Buy Disclosure: Held
