SBS 0.00% 2.9¢ sub-sahara resources nl

not yet but 10 dollar per oz ev i cannot help

  1. 3,731 Posts.
    Time to have a fun with SBS.

    Cannot understand what a junior gold explorer is worth.

    ZARA JV 69% of 1.040moz
    That is: 700,000oz at 6.31g/t, 86% is indicated resource;

    Tanzania Tusker JV with Barrick, 30% of 4.5moz
    That is: 1.5moz at 1.15g/t 76% is indicated resource

    Total resources: 2.2moz with about 80% is indicated resource

    7.6m shares in Sunridge Gold: 7.6x1.39x1.07=$11.3m
    6m Shares in Currie Rose Resources:6x.19x1.07=$1.2m
    Cash $2m

    At current price, almost all options are out of money.
    Total share on issue: 502m
    Market cap: $33.6m
    EV=33.6-11.3-1.2-2+2=$20m

    With 2.2moz,and 80% is indicated resources, the EV/oz is les than $10/oz

 
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