What about MXR... their child company...
Announcement just out.... Bird in Hand will be 50,000oz gold for 5 years... 50,000oz at $800AUS an ounce is about $40M a year for 5 years....
I would expect a cost of less than $400oz... which should lead to a nice $20M profit a year for 5 years.....
Selhiem will also be interesting..... They have stated before 20,000oz at a cost of $200AUS.... even allowing for a major f up and costs being $400oz, that allows for another $8M profit a year (or $12M at the stated $200oz cost)...
Quite easily that could be $8M + $20M a year profit company...
So... $13M market cap - $10M in ERO shares..... Leaves a cap of $3M making $28M a year...... yeah... that makes sense....
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