I agree. Very roughly- lets say in ground resources for takeover are valued around US$100 per ounce - so maybe AUD130, for a takeover value of $130mil if they get to 1m ounces. Current SOI that would be ~21 cents per share. So yeah, it doesn't seem too bad a bet from here. My average is a bit higher though
Ann: Quarterly Activities & Cashflow Report, page-4
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