He comments that a large amount of the resource should convert to reserve, he throws the 2moz number out. That’s no surprise with us already at 82% measured and indicated. He also throws out 3moz as a number further drilling success might bring.
If we get up to 3moz, at a very undemanding $100 EV/oz (currently a very cheap $78), with 459m shares, that would be an EV/sh of 69c. At $150 EV/oz it’d be 98c. A1 jurisdiction, open pit, simple geology with bulk production scale plus the prospect of increasing grade should see us closer to $150 than $100 EV/oz as we progress the project. Add 3c a share for $15m of cash after more drilling. Cash of $27m as at June 30.
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