Hi Jacks,
Some basic assumptions need to be made because they currently have 1M oz inferred resource at Sam's Creek and MOD have said that they will recalculate this based upon 2g/t cut off.
It is not possible to know how much gold can be extracted based upon this new cut off, but for the sake of my calculation I assume they end up with a measured resource of 350,000 ozs.
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The other way to calculate is to take 1M ozs at $10 per oz = $8M.
This cash would let them repay the loan to SHL and keep on drilling in Botswana, hopefully by that time the investment climate will have improved.
Sometimes I do much more research before I buy, but other times I try to keep it simple.
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