With the annual report due in less than 2 weeks, do we have any estimates for the current gold inventory?
Let's take a wildly conservative approach and assume gold inventory didn't grow at all in the past 12 months. The current $183 million (at cost) value of the inventory from the '23 annual report would now have a sale value of $363 million.
$3824 (current POG AUD) ÷ $1930 (assumed all-in cost) x $183 million = 363,000,000
Even after today's 11% rise, that's still 1.7 x the market cap of the company.
With an incoming 20c dividend.
This truly seems to be the conservative investor's approach to riding what appears to still be the early stages of a gold bull market. Perhaps one to appeal to otherwise reluctant fund managers with a general distaste for the resources sector?
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