25,000 ounces of gold at an All-In Sustaining Cost (‘AISC’of A$1,247 per ounce.
Current gold price $2527 per ounce therefore a margin per oz of $1280
$1,280*25,000 = $32,000,000
Current cash is $2.4m, MC is $4.8m therefore the EV is $2.4m
IMO this is well undervalued as they start the journey to mining and the Tick Hill offers plenty of exploration upside to expand the resource
Ann: Tick Hill Gold Project Compelling Scoping Study Results, page-13
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