Today the company announced that the mine was closing because it...

Today the company announced that the mine was closing because it can't make money. What is the company worth? 600 million shares on issue. Last quarter had $11.4M cash and $2.5M debt. Net cash say $9M though the cash will have gone down since then - have to wait untill the next quarterly to find out how much money is in the can. Will have to wait and see whast the closure costs are for contractors, rahabilitation etcetera. Company now focussing on exploration.
What is the company worth? I reckon $15M because they will have to get something for the plant. Maybe 10M who knows? shares will end up close to 2.5 cents. 1.8 c on a bad day.