UML closed today at 16c. That gives a market cap of $81 million. Take away the $50 million they have in the bank and the market is valuing the company at $31 million. I reckon that is pretty cheap for a gold company producing 50k ozs p/ann and likely to grow. Down the track their investment in Goldstone alone may be worth $31 million.
Busting
UML closed today at 16c. That gives a market cap of $81 million....
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