With over a billion shares on offer and an estimate of 2mill ounces my calculations amount to around22- 30 cents a share based on price of gold ranging from $1000-1200/ounce and relatively cheap extraction costs.
2,000,000ounces x $1000 = $2,000,000,000
$2,000,000,000 * 20% = $400,000,000
$400,000,000 / 1,350,000,000 shares 30c/share
BASED on 20% extraction costs which considers time value of money and x amount of years to produce etc. 15% would equal 23 cents per share which indicates a major variation to the future share price because of the extraction/overheads/time frame etc.
This is why I find it difficult to value this stock but I can see it 23 cents plus in the future if they can infer a 2 million resource.
Thoughts?
valuation
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