We could look at it very simply as follows:
1. 500 oz week x 52 weeks = 26000 oz a year
2. opex (AISC) = 1000/oz (in AUD - their target costs at optimal production rates)
3. Revenue = 1700 AUD/oz
26000 x (1700 - 1000) = $18.2m a year
Put it on a multiple of 10 = $182m market capn.
Issued cap = 1.3 billion (diluted)
182/1300 = 14c
With upside from bonanza grades etc.....
Absolute Bargain, page-7
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