Galoc appears to be generating a post costs and tax profit to NDO of $4.4 mill.
I havent looked at the decline curve or economics, but you could try a 5 years foreward earnings, making Galoc worth about $20 mill, with their $18 mill or so in the bank gives a bottom line share price of just under 3cents.
Of course that's giving no value for future exploration and potential cost cutting.
Round it up to 4 cents, you're pretty much there
NDO Price at posting:
4.2¢ Sentiment: LT Buy Disclosure: Held
