its not EV if you dont ex the cash (+ add any debt)
whether you do it fully diluted or not is more a matter of taste - but generally its wise for spec miners bc they often issue a lot of options
i wasnt going to mention but as im here - is that ard resource for kempfield alone? Bc Kempfield's gold grade is 0.1xg/t from memory
its not EV if you dont ex the cash (+ add any debt)whether you...
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