Here's a little exercise in year 6 arithmetic:
Citigold has 10 million ounces of gold underground.
A rough guess suggests that the profit on each ounce will be about $460 (after extraction and refining costs)
10 million multiplied by $460 equals $4.6 billion dollars worth of gold after allowing for extraction and refining.
Citigold has about 580 million shares issued.
$4.6 billion divided by 580 million equals $8 per share.
So for every share selling for about 40 cents it is due to make $8 eventually!
Prove me wrong if you can.
citigold profit calculations
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