58% dividend yield(gross)+14.5%capital return , page-22

Sorry if I was insulting Mooramick - I thought you were trying to downramp.

The fundamentals are actually quite easy.

Post-dividend payment, the company will have 29c of cash with a 14c tax liability due in Feb, i.e. 15c of net cash. It will also have 1.5c of excess franking credits to distribute in future. It earns interest on all this cash.

On top of this, it has the right to receive a copper royalty from its Great Australia resource over the next few years equal to 7c a share based on current copper price.

In addition, it is still producing gold from its White Dam gold mine, which finishes early next year, but is very highly likely to be extended in January. There is plenty of gold exploration tenements surrounding that.

On top of this, it has copper resources and advanced exploration in the Cloncurry, which are its most exciting prospects. The Mt Colin resource is about the same size as Great Australia, so is probably worth another 7c a share on its own.