Ann: Thick Shallow Gold Continues at Jones Find, page-44

Valuations are a bit unknown just yet as we need to see the final raise numbers, gold price etc. I have a base case around 50-60k ounces pa with approx $1000 margins based on $2500 gold. This goes back to the early report from a broker.
The first mines are solid high grade for quick pay back. They have mills, and most things lined up with finance looking obvious to me. Some of that already sorted according to Gareth. The rest to come. This all helps reduce dilution.
I have also looked and a combination of debt and equity and reckon they maybe able to slam this home with no more than 200m shares on issue. If you run some numbers on all that, we might be able to see $1.50 on stage 1. Stage 2 takes us over 100k ounces pa, so you are looking closer to $3 when everything is running and gold is anywhere near A$2500. These are just envelop numbers and the company will need to supply the near term final studies in march qrt for us to really know. Given where bc8 is and its grade, the stock is very undervalued but the market is waiting for the obvious and then its all on for the funds once they see a clear run to production locked in. I am buying on weakness around here because i think it will get done with this team and i cant pick the bottom. We probably wont get shares in the placement anyway. I dont think it matters if i pay 60c when things start coming together on the ground. These are my own thoughts for some time and the announcements suggest everything is on course. Covid slowed everyone down, but that log jam will clear over time. I am grateful they had the foresight to buy a lot of the equipment. That has also saved us real time and real money. It will take some more time and the markets will be all over the place, and that is why i have just bought and hold. dyor