bid building, page-3

As a bare minimum, the plant is worth $30 mill in its refurbished state. They have $6.5 mill debt. they have 250,000 oz at 6.5gms reserve at Frogs Legs worth $300 AUD a gram and say 300,000 oz reserves at 1.5gms at South Kal worth say $50 a tonne. Lets value the exploration at zero.
Add it up and we have $113,500,000 of value or $1.23 a share.
Operational issues:
1)Lets say that Mt marion costs another $3 mill to sort out to get $20 mill of gold out of the crown pillar.Not much issue there but delayed till March while they deal with HBJ. Meanwhile they have 225,000 tonnes of stockpile to use till the Mt marion dirt gets going.So there wont be any loss of production. Their costs will be a bit higher early on in the year, say Jan/Feb, but will drop quickly after that.

2)According to the quartely, the HBJ west wall is being remediated while they continue to excavate the southern part of the pit. Say another $2 mill remediation to keep the southern end of the pit open for another 5 months while they continue to mine.

And dont forget that while all this is happening, Diesel, Labour and consumables are dropping in price AND Frogs legs is starting to hit its straps.

Technically the stock should rally to 90c or 38% of its fall from 240 ish without a blink...$1.40 as the next target being 61.6% retracement.

We all know that the sellers are distressed, overseas shareholders and they cant sell for ever.

Anyone got anything else to add...