Resource Valuation, page-5

Hi Topwon

Not to burst anybody's bubble here -  and far be it from me to down play price - but spot resource price isnt what is used to value a company.  Similar to when the price was down, we argued you simply cant refer to the 'current' spot price to value our company LT

The other component is Total Cost of production.  A recent article i read was that all in sustainment cost of production was around $1100 per ounce.

Hence our disputing of Z's valuation and where we sit with our value.