It will be interesting to see what valuation the company has.
There is a 6.1m oz resource but only 900k oz reserve.
On current numbers of 60,000 oz per year at 400 aud margin. Gives EBITDA of 24m per year. If we use 7.5x earnings that is 180m less 38m in debt. That is EV of $142m or $0.42 per share.
Could maybe add another $20 - $30m for reserves.
So maybe $175m is fully valued which is $0.52 per share.
DYOR
It will be interesting to see what valuation the company has....
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