Well,
14Mt dirt @ 2.6 Ounces
Gold $820 Ounce
Cost
14 Mt @ $20 (cost of extraction) = $280M
Debt $40M (mill start up)
=$320M
Gold is ~$820 x 1.2M Ounces = $984M
*no interest on $40M loan
984 - 320 = NPV $664M
$664M / 300M Shares (options plus heads) = $2.20 a share value.
Correct me if I am wrong please!...this sh1ts on BTV!
