Ann: RIU Explorers Conference Presentation, page-31

Some quick back of the envelope calculations

Assumptions
aiming for 1m - 1.5m resource (will use 1M ounce conservative)

current price of gold $1644 (Conservative will use $1600) per ounce

Current shares on issue assuming circa 2.7 billion (including options)

Assume cost of producing will be $1100 include machinery break down etc (not accurate by any means just a googled approximate)

Gross Profit
$1600 x 1000000 = $1.6B

less $1100 x 1000000 = $1.1B
Total $500000000 / 2.7B Shares = 18.5c/share

This is very rough calculations even if we were to make it more conservative and remove another 25% would still give circa 14c

All imo still a lot of factors not considered