Ann: High Grade Intercepts and Conglomerate Review, page-46

I personally do not see the $1b Company in the near future.
But I see a lot of different catalyst to drive the current share price.
- the plant expansion is aiming at more (!) than 100k ounces, which is supported by significantly higher grades by underground mining
- they have 850k ounces of fresh ore, which they can process after the upgrade of the plant, which will be a huge boast to life of mine

So we might look a gold producer with +100k ounces per year with a life of mine of more than ten years. Assuming margins of 350 - 450 AUD per ounce, this results in a Profit of 35 - 45 Mil AUD per year.
With a conservative P/E of 6 or 7 we talk about a market cap from 210 Mil up to 315 Mil.
If they manage to produce 110k ounces per year the numbers would be profit 38.5 - 49.5 Mil AUD and market cap 231 up to 346.5 Mil AUD.
If they find similar underground grades like Bartons under other open pit deposits, they might consider another upgrade. But at this point is important that they do not think about the steps in maybe 3-5 years, but to execute their current strategy. So several good quarters and transitioning to underground mining.