A 1.5Moz RESERVE at $10/oz - now I'd like to see that!!
Sorry wild bill, but you're numbers are an order of magnitude out at least.
A typical EV/reserve ounce for most goldies is in the order of >$100, but up to $300-$400 for the market darlings or very high grade plays etc. I don't have the info at my fingertips for east africa, but the proposed CHN transaction for Zara is at around $170/reserve ounce (on a 100%) basis.
Even stepping back to the lower classification of resources, at an EV/oz ratio of around $80/oz isn't unreasonable.
Now whether we get to the 1.5Moz is the far bigger question.
5c bid, page-6
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