Shares on issue: 1 270 000 000
guess of oz: 10 000 000
1 270 000 000 ÷ 10 000 000 = 127 - 127 stocks per one oz of gold held by the company
gold price (or explorer gold price) $350
350 ÷ 127 = $2.75 per share
This formula was stolen off someone else in hotcopper, sorry I can't find the original poster to give credit.
Bell Potter - New Discoveries Lift Resource Potential, page-18
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