GBM Gold undervalued?

GBM Market Cap is currently just 10M compared to its assets and near term production potential plus attractive exploration targets. Total investment for Bendigo Gold Project is around $350M. The gold plant alone cost $64.4M and Ore was processed through the 600,000 tonne per annum. GBM will implement low cost tailings projects in Bendigo to produce gold and industrial sands for early cash flow.

The Bendigo Goldfield is Australia’s second richest historical goldfield after Kalgoorlie’s Golden Mile with 22 million ounces of gold produced.

Investor Presentation:
http://www.asx.com.au/asxpdf/20160519/pdf/437bxqzb0z3676.pdf