RE:Common sense!!If the upcoming 15-20 drill results are solid, it could be:
12M ounces (6M at the new CVS and 6M at Dolphin)
Say $100USD an ounce to be conservative
= $1,200.000,000USD / 294,000,000 shares 0/s ( This will be the number approximately of shares after all the subscriptions including the last $34M raise). I do not have the number of fully diluted on hand, however will estimate at another 25,000,000.
So:
1.2B USD / 319M = $3.76USD or about $4.90 CND.
Of course what is key, is the number of high grade ounces in the new CVS zone pending. That on the low side could easily be a few million and blue sky way over the 6M I have. Unknown. That is what we are waiting for, not the daily rants about the gold price.
If they new CVS zone do not add significant ounces of at least a few million, then the value of the Dolphin ounces suffers also. Sulphide, lower grade etc. That deposit is heavily influenced by the gold price.
GLTA