ARL 0.00% 72.5¢ ardea resources limited

Thanks Gosney for your reply. Perhaps @boughtearly you might be...

  1. 5,851 Posts.
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    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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