Yaqona - agree with all you have to say...
see if you agree with my VERY basic figures...
Gold A$1,200/oz
Production Costs A$500/oz ($300us as stated in reports)
so $700/oz gross x 40,000/oz (using conservative production figure of 10,000oz less than guidance
gives = $24 million profit
on a market cap of 75 mil roughly, that is a forward PE of 3
and you have to remember that doesnt take into account:
- any value for iron ore offtakes (conservatively worth 10mil year)
- any deal involving the gold processing plants
- the likelihood that gold will bounce back
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below 1 dollar now, page-9
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