CTL may rise to the range of A$ 0.03 - 0.05, page-158

Even if they mine all of A1's indicated resource (c. 41 koz, ignoring the inferred resources), that would be $23m net margin (being A$1,550/oz revenue vs A$1,000/oz all-in sustaining cost. Assuming they blow $5m in exploration, corporate and admin costs, that would still be $18m cash in the bank.

Then we deduct for the $2.5m of convertible debt, so they will have $15m in cash at the end of the day, which is $0.021 per share.

If there really isn't any more gold there, we could do a 1PG and vote to dump management and board, and get the cash distributed to shareholders.