Napkin calculations?Well here we are at around $4 per share. Estimated all in costs to produce was guesstimated at $350+ per ounce. Make if $650 per ounce (adding in a mine) and that leaves $1000 per ounce profit. For every 1moz in the ground that turns out to be about $5 per share (1moz x $1000 per ounce / 200 million shares). So it looks like the market is estimating less than 1moz in the ground. IF it turns out we have 3 - 5 moz in the ground, then $15 - $25 per share profit. Add in even a mediocre discovery in Queensway South and we are substantially higher. I'm just not getting it. Add in a run on gold?
Just some thoughts.
TK