Given the numbers for Tropicana, I reckon a $2.7B valuation for the whole operation is more than reasonable and justified.
We paid $900m for our share, that means Duketon is valued at $400m and McPs at $0 currenly.
Given the last few quarterlies, I think $400m for Duketon is reasonable, but as those issues get resolved and investments pay dividends, the value will go up.
AISC down around $1000, unbelievable operational uptime, recent expansion works will start paying dividends, a massive resource with a long mine life and a lot more gold to be found as exploration continues...
I am actually disappointed we don't own more of it and can't buy more of it.
I also prefer the fact that we are in a JV with AngloGold and they are running the operation, they can't be faulted.
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