bargain gold stock, page-9

Monako,
having 1 million ounces [i.e. approx 250,000 ounces indicated and 700,000 ounces inferred] is quite a big number to have in its coffers. At dilution, its current market cap is about 15 million! With about 5 million in cash, its EV is looking at 10 million?

Their cash cost to extraction will be low and below its peers as it is a toll treat operation. If they are even able to just extract the 250,000 ounces, that's a net profit of about;

250,000 ounces X [1400/ounce - 500/ounce] = 225 million!

Bear in mind that we have to take royalty, CAPEX and tax into account, but still the valuation is seriously undervalued. With 1.5 million ounces, this won't sit at this market cap for long...

But i am just trying to figure out if i got the numbers wrong or if i am not looking into other factors.