the fall below previous support sent me back to my NPV calc. beatle my NPV number similar to yours.
If gold $1000, silver $13,AUD/USD 0.9, discount rate 10%, int. on borrowing 8%, repay over 4 years (cashflow enough to do so at their whim), tax free first 4 years (worth 5c) and add in 2c for $20m current cash & based on fully placed shares of 949m i get 27c, based on NPV If gold $900 then 23c If $1100 then 32c if $1200 then 37c
Only risk may be in the acheiving tax free for first 4 years but their relationship with govt seems OK, so probably minimal.
These are based on NPV, if Mapawa found something then it'll go on fire.
If we were to base on PE using av. eps 4.8c (using $1000 oz scenario) or cash generated 5c per share then any "lite" multiple of either would see that this should be well into the 20's at the very least at this stage.
C'mon RED, (i need to get back into ORE!)
RED Price at posting:
$1.35 Sentiment: Buy Disclosure: Held
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