So if they raise $35M @ 40c and spend $10m this quarter, that leaves $25M less net debt=$30M Net debt.
At 44c share price would be $130 Market cap, at 40c about $115 MC.
Given they are projecting earnings of $60M USD per annum, (AISC $900 x 200k ounces, with GP $1200) that's $76M AUD, or a forward P/E of about 1.5 at share price 40c
Still looks cheap....why is everyone thinking a drop lower than 40c, when the placement will be at that figure?
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