X64 20 cents party, page-2

Well, 20c/share would correspond to a market cap of 45 Mio. AUD.

Let‘s assume that PMC can conservatively increase production to 15koz per quarter (60koz p.a.) with AISC decreasing to 1.700 USD/oz as the Tiger Way implementation gets underway. At current gold prices, that leaves a margin of 1.200 USD/oz or 72 Mio. USD pre tax profit. Let‘s say 58 Mio. USD after tax of which we have a 40% share.

That would equate to 23,2 Mio. USD or 37 Mio. AUD being our Profit Share.

At 20c/Share that would be a PE of just a little bit above 1. So yes, even at 20c/share we would be cheap based on the potential of the mine in the current Gold Price Environment.

If output with the Tiger Way Decline an be increased even further, then it will be icing on the cake.