PMC
Existing mine and infrastructure. Experienced team. Management loaded with shares they paid for themselves. CEO largest investor at 10%.
No need for more funds - cash in bank about $4-5m
Already producing via tolling with Barrick.
Aiming to produce at rate of 40k oz pa starting in 2012 with own mill. Will be making about A$900-$1000 per oz at current spot gold price of A$1750.
CEO publicly stating JORC expected to come in at 1m oz resource / 500k oz reserves by December 2011
Market cap at 13.5c = $36m = 1x F 2012 EBITDA (excluding exploration and corporate costs)
gold stocks with market caps under $300m, page-43
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