Since July the gold price has increased from $1400 to $1580 an oz.
The company holds significant amounts of gold at the Perth Mint that it has accumulated over the last few years. Since June last year the company has added a further 20,000 ozs to it's holdings that now stand at 130kozs. On it's own this equates to $4 per share.
The extra gold and increased price since July have added $1 per share in value. That's in the bank(mint) value not future value to be derived from operations.
Add to this the mine management improvements that have occurred during this time and the price is more unbelievable. Gold resources have nearly doubled in the last 12 months, production continues to increase, and a new mine has been established and is ramping up production.... Not forgetting grade is very high and AISC is very low.
TBR Price at posting:
$3.60 Sentiment: Buy Disclosure: Held
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