Ann: March 2022 Quarter Activities Report and Appendix 5B, page-37

3 million cash, so our effective MC atm is 13 million. Even if my rough calculation is only half right, say 1.4 million Oz @ $1800/Oz that's $2.5 billion or say $126 million per year for a mine life of 20 years.

so let's assume costs @ $1000usd an Oz (high) that's $800 profit/ Oz multiply by 1.4 million Oz equals $1.12 BILLION divide that by 20 years mine life and we get about $56 million profit/ year. That means MHC is a billion dollar company or around 0.73 cents/ share. And that assumes I'm only half right and gold sales at $1800/Oz . Still a long way to go, but if your not trading MHC ( and if your intelligent you shouldn't be) there is a massive disconnect from fundamentals and share price atm. Upside far and beyond greater than downside risk. Does that mean the SP won't go down any further? Of course not, it could. If it does you should pick up a few more.