welcome back beatle.I had been contemplating a new post with the...

welcome back beatle.
I had been contemplating a new post with the header: "(Almost) Free Gold" but a segue from your post is fine

My calcs
Cash 6.8c
Assets/plant/development exp to date 2.9c
IGV of 849K oz gold 1.8c
Mapawa nil of course
Total 11.5c

The total value ascribed to the gold is $17m, or $A20 oz. which is far and away from any POG anyone cares to consider.

While an NPV points to a fair value based on projectable cashflows the NTA is best to assess the quick or liquidation value, i.e assessing an invetsors rock bottom value. The development costs mustn't be overlooked as you can understand and particularly having been on them longer than my first purchase in Sep09 - these are tangible sunk costs that were required to get the project to where it is.

The market has a true feel of dejavu 2008/2009 - lack of buyers & people just wanting to liquidate anything thats not ASX200.

With some pundits pointing out the support for gold back down at $950 area, we could have further to decline, making the gold even more free -perhaps even negatively valued as it was early in 2009!

Its times like these i wish i was a trader rather than a plain vanilla "holder"