Gold/Silver producing.....cheap cheap, page-8

Might be a case of bottom drawer, but this next round of drilling is very significant.

"Detailed shallow drilling program/plan finalised for the Enterprise and Karuka vein systems with a view to establishing a JORC Resource."

So what, I ask myself?

Well (in answer), how is the market to assign a value to this company? We know that they are producing, they have their own rigs, and that they are cash flow positive, but, looking forwards - where is the value?

JORC report might not seem that exciting but once we can establish how much more gold is in the ground (remembering that it can be processed almost immediately using assets already in place), then the market can start to assign a more appropriate value. At the moment it is only seeing the lower grades and wondering how long before the gold runs out?

The quarterly shows us that 282 ounces of gold mined in June alone = $469k in sales, which more than covered costs for the whole quarter ($411k)

So how many multiples of that 282 ounces do we have to dig up to give us 1c do you think?

That's not even taking into account the silver or the non-producing tenements.

Was unsettling to see the .3c dumped into but I chose not to sell because of the potential, and the market cap at the moment is ridiculous.

All in my own opinion and I hope that people will share any corrections or other perspectives.