Actually the numbers were already projected a couple of years into the future. Realistically one shouldn't value Tropicana at any more than about 30c/share ATM.
Firstly the numbers of $1b i used was IGO's MC at peak.
But back to Trop, it's still unproven. $50/oz IGV at this stage would be generous.
The numbers I used in the previous posting was $200m. (doubling reported 3m ozs to 6m at 100/oz IGV)
Well, remember NCM sold it's 22% share of the much more advanced, and at this stage far bigger Boddington project for $225m.
I like Trop, but it's important not to get too far ahead of oneself.
If they can prove up further, with some sort of feas study at current Au price, then $100/oz IGV may be possible
independence ripe for takeover, page-5
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