Quick look at their worth... :)
Ramelius pulled 160,000 tonne of Ore from the ground at an average of 10.1g/t from March 06 to Oct 06. They also have a processing plant capable of 180,000 tonnes per annum.
They currently have 167 Million Shares fully diluted. They have cash and ore stockpiled and conversion of Options will bring in another $12 Million. No dilution required.
Looking at a PE ratio value.....
They can easily dig out 180,000 tonnes per annum and keep the plant running at capacity.
At 180,000 tpa @ 10g/t, they would process about 63,000 oz gold. They run a cost of less than $200 per ounce leaving a profit of about $600 an ounce. 63000 x $600 = $38 Million per annum.
Given that they have drilled 48m at 154 g/t and 13m at 32 g/t, one could assume they could get the average grade to 30 g/t. (only 1/5 of the 154 g/t).
This could give RMS a profit around the $120 Million p/a. Given a PE of a very low 5, this could give a company value around the $600 Million mark.
A fair market value at the moment could be $3.60 a share.
Currently at $1.38 with 167M shares = market cap of $230M fully diluted.
Looking more positively, with such high grades maybe 50 g/t could be achieved at a cost of only $100 tonne. Also a PE of 10 could be applied as it is open in most directions. This would be more like 100,000 ounces a year with a profit level of $700 per ounce giving a profit of $210 Million a year. With a PE of 10, this could be a $2 Billion company with a share price $12 a share.
So a low SP of $3.60 and a high SP of $12. Comment welcome....
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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4 | 32675 | 2.070 |
6 | 57274 | 2.060 |
5 | 79730 | 2.050 |
2 | 20933 | 2.040 |
Price($) | Vol. | No. |
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2.100 | 43998 | 10 |
2.110 | 20635 | 2 |
2.120 | 7478 | 1 |
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2.140 | 25605 | 3 |
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