$27m in cash in bank, 45k oz per year at a base cost of $1,000 (give or take)
Physical gold is becoming shorter in supply, and by years end the paper players will be needing physical or buying back, either way gold should be $1500 by end of year.
Physical demand by India (now they have sorted out their import misunderstanding) and China should see good support in the near term.
If so, at present costs etc with the A$ at .90 would give a profit of $650 per oz x 45k just shy of $30m
Not bad for a company with a MC of $55m
Good value at these levels
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