No way to diversify.
Fix operational problems = x3
Conversion of resources on hand into reserves and LOM 12y = x3
Exploration results of 500k to 2m ounces = x1.5 - x3
Gold price retest of old highs = x2.5
Probability of all events to unfold is pretty small but significantly higher than 0. If nothing happens we will not lose more as even then Troy will have more cash flow over the LOM than the current share price.
3 x 3 x 2.25 x 2.5 = ?
What is the alternative to make a difference?
Ann: Karouni Operational Update, page-104
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