In H1 FY'22 BCN produced 15,175 oz of gold and generated a NPAT of A$485/oz
It has a resource of approximately 330,000 oz of gold giving BCN a LOM of around 10 years and the ability to add to reserves as they are depleted by mining and processing.
BCN is trading on a P/E Ratio of about 8x
Applying similar margins and ratio's to GML, assuming a 1,000,000 oz resource and producing 100,000 oz gold per year would see a equivalent MC of around $400m.
After allowing for a $50m capital requirement to complete drilling an establish a processing plant that leaves around $350m value for shareholders and an equivalent SP of 15 cents which is a long way north of the current 1.2 cents share price.
We can all see why the drive of the current MD and Board to 1,000,000 oz of gold. The only question is when.
It is great to see the Exec Chairman Trent Franklin buy a decent parcel of shares on market.
GML Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
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