wipeoff: "Mljet with that resource estimate what would a back of envelope calc be re the value to the SP?"
Let's await the feasibility study but as I said, back-of- envelope, seeing it's all just below the bottom of the existing pits, it will be a very low cost operaion. If gold stays above $1400 AUD, then I'd be surprised if cash costs were greater than $600/oz, we are looking at a serious free cash flow of $25M+ per annum.
Put it on a conservative 6X multiple and you have an asset, once in full production, worth circa $150M in my opinion.
Remember this is open at depth. Have a look at page 13 of the AGM presentation. Look at the grades below the NOA 8 pit. (I had mentioned this previously).... 6m @ 20g/t, 14m @ 3g/t and 8m @ 2.9g/t. This is all open at depth.
what a bargain we got with jinka, page-7
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