$250m of that is to pay for GOR's 50% share in $500m mine with Gold Fields.
That leaves $100m which is dedicated to finding another 5 to 10m oz discovery.
So there's not going to be a dividend or a share buy back.
The directors are doing really well - they knew they didn't know enough about setting up a gold production facility so got Gold Fields involved. So no capital raising or loans. Really smart.
GOR will be worth more if they keep on discovering gold and have a 20m oz reserves.
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5 | 45778 | 1.850 |
4 | 77905 | 1.845 |
7 | 30809 | 1.840 |
2 | 44749 | 1.835 |
Price($) | Vol. | No. |
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