Is this still crazily underpriced? Even if ASIC is $1750, the gold price is $300, we are making $1250 per ounce. Multiply this by 275000 ounces, on the lower side of guidance, we still get more than US$300 million cash flow or profit (equivalent of $500 million AUD). The market price is just $1 Billion. So we have a PE of 2. We have 65 million cash, and with Ravenswood cash coming on board, we will have even more cash. I think there is too much fear baked into the Political instability. I can imagine even the African government wanted the mine to be profitable and they share the profit. The last thing they wanted was to drive Western companies away from investing in their countries.
RSG Price at posting:
47.3¢ Sentiment: Buy Disclosure: Held
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