lack of confidence, page-6

200,000 oz pa from Mt Monger is an achievable and sustainable production rate imo.

With gold even at $1295 and an AISC of ~$1000, that's a margin of AUD 400/oz x 200,000 = AUD 80,000,000 EBIT or ~16c a share.

Wouldn't 60c a share as a T/O be inadequate given there is the potential to increase production and run the company more efficiently?