Model based on 50% Gross Operating Profit, assuming Gold is $A2,500/oz & 20,000 oz pa of AuEq is mined.
1) Gross Yearly Profit is $25m (20k x $2,500 x 50%)
2) Gross Profit per Share is 5c ($25m ÷ 500m Shares)
3) If P/E is 14, then 14x 5c is a Share Price of 70c.
So all is looking like NAGs is heading in a very good direction with gold, albeit with many more DHs needed to complete the model and determine both grades and quantity.
Ann: Interim Drilling Results Confirm Stibnite Veining and Gold, page-43
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