To elaborate on my previous post and to provide a better understanding of our asset backing per share, here is another short overview:
Net Assets (inclusive of 17 Mio USD hidden reserves in inventories (gold bullion at cost):
221,84 Mio USD (326,23 Mio AUD @0.68 AUD/USD): Net Asset Backing per share:1,32 AUD/share
Net Current Assets (inclusive of 17 Mio USD hidden reserves in inventories (gold bullion at cost):
95,14 Mio USD (139,912 Mio AUD @0.68 AUD/USD): Net Current Asset Backing per share: 0,61 AUD/share
For the share price to fall below the Net Current Asset Backing per share (these assets are cash equivalent/ can be monetized quickly) actually gives us a negative EV (Enterprise Value) which, for a profitable company (margin currently around 360 USD/oz) is absolutely ridiculous.
All of the above is just my opinion, please DYOR.
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