ev/oz is one of the ways for investors looking from the outside...

ev/oz is one of the ways for investors looking from the outside can use to value a company. they cant just go on what may be possible.

150k oz resource is small and inconclusive for any investor and wouldn't even raise the eyebrows of financial institutions. maybe more experienced gold investors eg. rms, have a better idea but the average punter and analyst wouldn't touch it.

a lot more drilling to at least convert resources to reserves and expand the base before people would pile in. the only reason the sp has gone up is from the volumes rms had been buying.

rms had limited reserves although they are 20gt at wattle dam. only when mt magnet is up and running will the sp reach its fair value. with 3mil resource there is more certainty and more confidence for investors to jump in.