Good result really. approx 36 million spent on development,...

Good result really. approx 36 million spent on development, exploration and equipment, with 7.5 million sitting around in bullion. 3.5 million also in takeover costs.

I you stopped exploring and developing, take out takeover expenses and sell everything milled you'd be looking at 50 million profit rather than 2.5. I know that's if's and buts, but very easy to see how this thing can rocket once the ground work has finished.

50 million equates to 100 million annually, which is around 2.3 cents per share. conservative P/E ratio of 4 and you're looking around ten cents. Not taking into account increased production or full ownership of CRE