BLK Valuation, page-10

Good note on valuation.

If we assume that BLK makes minimum of $500 per oz with 100,000 oz per year starting this month. $50M profit. 5x $250M. 7x 375M. Market cap. Need to discount it further as has not produced yet.

On 230,000 oz @ 500/oz. $115M profit. 5x. $575M market cap.

With 282M shares on issue. $1 - 1.25 per share short term valuation, with increased next year to $2 per share.

$500/oz is probably conservative.

DYOR