This baby is in no mood to head south..., page-104

Hi IK,

I get 2.8c or $0.028 using your figures. But that's not how value of resources is calculated. It depends on a number of factors and you can take other companies as examples but it tends to be in the ballpark of $100 per resource ounce. Which would simply mean dividing 2.8c by 10 and suggests the value of Mt Celia is approximately 0.28c per share.

A maximum according to the 911metallurgist link below is 10% of the gold price so for the sake of simplicity we call that $200 / resource ounce ~$36 million would be the maximum value of the project.

Basically based on the in ground gold the share price of this company is 3-6x above fair value.

https://www.911metallurgist.com/blog/how-to-value-gold-deposits