value, page-2

enrich...another way of looking at it is a comparison with IGR (JG compares us with them all the time)

They have 2 mill oz.and have a market cap of 444 mill (down from 550 mill a month ago).

We currently have 500k oz and have a market cap of 38 mill. A conservative guess should have us at 110 mill..we have to spend a couple of bucks on plant lets say 30 mill.( I'm sure someone will correct me)So 110 less 30 gives 80 mill so we need to double (16 cents)to get level with IGR.

Assuming we get to the magic 2.5 mill (which is what JG is aiming for) then we need to multiply that number (80 mill) by 5 which gives 400 mill. Divide that by current market cap (38)gives 10.5 multiplied by current share price (8.3) give 87 cents per share.

There are lots of ways to look at it....but anyway you look at it and it seems good value.