Let us net out the Silver & impairments. $70m. of inventory, or so. At cost. I am not a numbers man, nor do I have any Industry background. So, easy multiples work for me.
Say cost is $800 per oz ( probably too low), at $2400 per oz, that makes around $210m. of realisable Gold. Say cost is $1400 per oz ( probably too high), again @ $2400 per oz, that makes ~$120m. of inventory… Clearly, these numbers are only a representation of what has been mined & produced, it doesn’t take into consideration future activity & subsequent storage of Ag…
I have a picture in my mind of the boss plugging into his spreadsheet the Gold on hand, the AUD gold price V’s the current market cap. I imagine the greater the -ve number, the happier he is…
C74
RND Price at posting:
$1.52 Sentiment: Buy Disclosure: Held
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