Mining boss explains his pledge to former booming CQ town, page-4

I have no idea what you are on about or where you get your figures from.

There are 200m shares. I have seen valuations for gold companies in the range of $175 per oz in the ground. SO a million oz mine is worth around the 175 mil, right? This seem reasonable?

We have no resource risk as applied to a "normal " mine set up as its all lying on the ground waiting to be scooped up. SO even the gold alone at a JORC resource of 380000 oz this company should be valued at 50-60 mil which equates to about 30c on gold oz alone.

Then you add in the fact that this is actually turning into a pyrite mine with gold and copper credits. These guys even intend to sell the tailings for cement. Even at $10 per tonne this is exciting and this has not been factored in yet.

This company will be making 60m a year for first few years and 30m after that. How many companies out there make 30mil per year and only have 200 million shares? That is eps of around 30cps initially and then going down to 15cps or there abouts.

Even at PE of 10 that is a 150cps.

But hey mate if want to sell at 30 you right ahead. I have been hear long enough i might as well wait a bit longer.

If there is minimal dilution say 50% which means 300m shares, this will easily worth $1 and probably 2.

Open to comment.

We are most likely entering the VWAP phase where they keep it down for CR part of the financing. We will soon know i think