My first reaction on seeing the JORC was, that's it, I'm out but after throwing a few figures at the calculator, the situation IMO is a lot better than it looks.
If we multiply 234,400 by today's gold price of say $1348 and subtract say $550 oz in costs then divide by 420 million shares it comes out to US$0.445/share or thereabouts. Probably slightly optimistic but even if I was able to realize half that kind of money per share over time I'd be one very happy investor.
If I'm way off base with my calculations, someone please feel free to correct me.
Cheers
KC
jorc resource, page-6
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