Has been a bit of talk about what is EXM worthNot only do we...

Has been a bit of talk about what is EXM worth

Not only do we have Juno, as most of us know there are a number of jorc compliant open pittable shallow resources also, these will be developed 1st in order to largely fund the exploitation of juno and the deeps

current gold resource is 1,117,637 Oz

On a fully diluted basis (post capital raising) EXM will have 3b shares on issue and approx $11m in bank
SO
That gives us a market cap of A$39m using todays sp of 1.3c
3b x .013 = $39m
strip out cash of $11m to arrive at an enterprise value (EV) of A$28m

A$28m divided by 1,117,637 gives us a current value per Oz of just A$25 Oz in ground value

current POG = A$1,143 Oz

scoping studies indicate cash costs of A$260-325 Oz for Juno (including pre strip), lets be conservative and use a cash cost figure of A$500 Oz assuming current POG that leaves a profit margin p/Oz of A$643 Oz

1,117,637 Oz x A$643 = A$718,640,591 Net Profit (pre tax)

this does not account for the known copper resource worth approx A$100m, it also does not account for exploration successs which we know is highly probable

That takes EXM to over A$800m in Net Profit on known resources using conservative assumptions

The Gross value of the resource is close to A$1.5bn