Yes, $90 million FCF per year from Stage 1 at Tarcoola x 10 years LOM = $900 million FCF.
$360 million after 4 years to allow BGD to build the "Big Mother" without dilution. Then processing 120 k ounces of Gold and 250 k ounces of silver per year. Both mills running return approximately $500 million FCF per year. This assumes gold at AUD 5000 per ounce. I've seen estimates way north of that.
As a current reference, which AS has used, CMM is an approx 120 k ounce producer and their MC is around $4 billion. They have just closed their Hedge Book.
So IF BGD can do all this without dilution that would mean a SP of circa $16. Ridiculous I know. But that's what the texta numbers on the back of my envelope say.
BGD Price at posting:
83.0¢ Sentiment: Buy Disclosure: Held
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