its fairly easy to confirm the statement. what if pog were...

its fairly easy to confirm the statement.

what if pog were $1200us today? would we sit around scratching our heads wondering why the sp isnt $0.04? we would not.

so, are we in the same situation as we were when "fair value is about $0.04" was mentioned by mcgarry? i dont actually have the timeline of the facts, so would throw some ideas out there off top of my head.

1. POG is roughly $120 per ounce higher i believe? so discount for $15m of additional profit?
2. Was the new tenement acquired yet? i suspect it was but if not, discount for $14m additional profit based on 10k ounces at $870 aisc?
3. Was there drilling activity at Stockdale? discount for speculation $3m?

Anyone else with ideas up or down? I cant think of any downside, and not going to indulge production and recovery rates as one would assume mcgarry had a decent enougg samlle after a 6 week period to rationalise there.

but, based on the above surely there is some upside to discount against the "around $0.04 fair value comment? no?