I reread the quarterly announcement recently and it could be interpreted that the SALE of bonanza is the preference here as opposed to JV. I make this assumption purely on the sentence construct and nothing else. If this be the case, we have over 1.1 million ounces for someone to snatch up. As previously stated I have heard rough numbers of $50 to $120 per ounce being used to value in ground gold resources. That is to account for the cost to mine and time taken to do so over many years. I would therefore conclude we have at least $60M to gain in the very near future by this sale. That should be the minimum if our MD really does want superior value for shareholders as stated. From that cash injection I would HOPE for a 1c dividend to thank the long term holders which wouldn't put more than a $4M dent in the $60M but would go a long way in improving shareholder support in the board. Call it a once off show of appreciation. The rest can be used for exploration which should be ample given the current approach of earn-in partnerships.
Any care to comment on this thinking?
The above is purely speculation.
Regards
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