Just a bit of math at 29c per share for a bit of fun and assuming Lindsay's goes thru and we issue 5-6 million shares 152m shares so 135koz we are mining over the next 4yrs. gives roughly 1125 shares,buys an ounce planned to be imminently mined within 5 yrs. or $326 current cost an ounce for ore that is ACTUALLY GETTING MINED. At today's gold price and margins each 1125 shares could be worth roughly $2500 in future profits over 4 yrs based at today's prices $5100 and costs.
add to that the CASH in the bank $10m less $2m due for Lindsay's We will ignore commitments i.e $4.4m for Burbank's as we will likely receive that from the final Jeffrie's find ore sale. Also The cost to set up Munda as that comes back from the mining once initial ore sold. Dividing that $8m by 135koz = $59.26c an ounce. That takes each ounce cost to be actually mined down to $266.74 based on 29c a share and 1125 shares.
That throws us Burbanks Mill site and whatever it's old tailing's or Mill site may actually be worth at what could be $5500 an ounce by then. Add the tenement packages and any other resource upside you can see.
DYOR + DYODD Do your own maths,mine could be wrong
AWJ Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
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