No need to be more conservative then $400 margin an oz at this stage. You'll be over 35 cps if you NPV. Most unproducing gold stocks I've been reviewing are trading around a 4th of NPV JORC resource.
Take comfort that LRC is trading at about a 12th of current JORC resource with drilling later this month planned to sure up 1-2mil oz.
I have no idea about the day to day but looks like it has room to run up to 8-10cents when trading settles.
some thoughts, page-8
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