RE:RE:Stellar results at BotoAt this point, Karita has to be left out of the equation. There is no drilling on it, and it is not even an offical permit at this point......although it is 100% MXI at the moment too. All the rest is 50% Merrex.
So here are the numbers:
Diakha: 2 million oz
Siribaya: 1 million oz (there has been some drilling since the last 43-101)
Total 3 million oz at $100/oz = $300 million x .5 (MXI portion) = $150 million
Total shares fully dilutied 165 million so high end of this = .91/share
This would be a top-end estimate for the end of 2015 in my view.
Assuming they drill up only 1.5 million oz at Diakha and don't add to Siribaya, the numbers look more like $100 million or .60/share.......which is where my expectations are at the moment from my previous post. Again, it will make a difference on the quality of drilling results that we haven't seen from 2014 and the new results from 2015.
(One really interesting thing is that the last results from Boto are really rich at lower depths, which haven't been looked at in Diakha yet. Hopefully they drop the DD's down deeper in 2015.)
The above numbers include no value given for Karita, the other 4 prospective permits at Siribaya where lots of early-stage work has been done, the Kakadian permit to the north, or the zinc projects elsewhere.
This is now a matter of the drilling to advance throughout the year and I think the deposit will get priced out at a fair value and sold to IMG or whomever will be developing Boto.......by the end of the year.