a 7 or 8 pe would be splendid against even a risk weighted...

a 7 or 8 pe would be splendid against even a risk weighted revenue, against the scoping study revenue it would make this a 10+ bagger!

this is my back of the envelope based on the scoping study, (not sure if i'm missing something important, big question is where/how the capex is achieved);

	Column 1	Column 2
0	690,000	oz of gold (low range expl target)
1	12	operating life
2	57500	oz/yr
3	$ 1,470.59	gold price
4	$ 470.59	all in cost
5	1000
6	$ 57,500,000.00
7	50%	risk weighting
8	$ 28,750,000.00
9	160,000,000	shares current
10	160,000,000	assumed placement for capex (shares)
11	$ 0.9	EBITDA per share
12	7	p/e
13	$ 0.63	target share price