It is hard to value this as there are so many unknowns. We do...

It is hard to value this as there are so many unknowns.

We do not know AISC- if it was good they would have released it.

Let's assume $1300. So Margin of $350.

Production 200,000 oz per year is off the table.

Let's assume 100,000 oz per year- that is being generous.

After head office costs and interest let's assume profit is $30m.

7x earnings. $210m less $30m in debt. $180m valuation.

Around $0.50 per share.

Obviously the more they can produce the higher the valuation goes up.

Maybe you add $20m for reserves.

Just my view.

DYOR