Thanks Gosney for your reply.
Perhaps @boughtearly you might be able to use your mineral economics (or perhaps anyone else) to come up with an Enterprise Value for Godolphin's pre listing - based on Saturn Metals (ASX - STN) and make comparisons?
I had selected Saturn in W.A. as although it is not in the Lachlan Fold Belt of N.S.W. it has 73 million shares on issue, market cap of $35 million, cash of $2.75 million, nil debt, EV of $32.4 million and a resource of 685,000 oz.
Godolphin's latest resource is 431,000 oz.
I have not mentioned the likes of TLM, MAG, KTA, DEV, all of which have ground near the Lachlan Fold Belt but no resources announced as yet.
I get the distinct impression that Godolphin at .20 cents will be a real bargain based on the above but maybe someone else might like to do some figures based on Godolphin listing fully subscribed.
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