so market doesnt like this goldie?480m fully diluted...

so market doesnt like this goldie?

480m fully diluted (disregarding out of money options)

MC 24m at 5c

Cash Sep Qtr=1.6m+2.3m (placement at 6c)+850k (placement at 5.5)=4.8m rough

30m partly paids (still 11c to pay) brings $3.3m

EV=24-4.8-3.3=16m

900k oz resource, 450k oz proven reserve, open pit

DFS done

environmental approval granted

DFS uses 505/oz cash cost

CAPEX 136m according to DFS

but latest update on company website revealed 2nd hand plant option, which could save tens of millions on 136m required

http://www.atlanticgold.com.au/

the company is one step away from mining, ie funding.

current EV is a joke

placement price consistently above prevailing market price


And management

these guys developed Plutonic Resources which was taken over by Barrick

Mr. Ronald J. Hawkes serves as Non-Executive Chairman of the Board of Atlantic Gold NL. He is a Board member since 18 January 1999. Mr. Hawkes has 44 years? experience in the mining industry and was formerly the Managing Director of Plutonic Resources Limited. He is a member of the Audit Committee and the Remuneration Committee. His Qualification is BSc, FAusIMM, FGAC.

Mr. Walter R. Bucknell serves as Executive Director of Atlantic Gold NL. He is a Board member since 18 January 1999 Mr Bucknell has 40 years? experience in the mining industry and was formerly the General Manager ? Exploration of Plutonic Resources Limited. He is a member of the Audit Committee and the Remuneration Committee. His Qualification is BSc (Hons), FAusIMM, FGAC, MSEG.


market needs to wake up

the EV/oz is an absolute joke