very very rough and conservative numbers...
1.2 million ounces at $1,000 per oz = 1.2 billion
ordinary shares + options < 450 million
= $2.66/share
In no way is this anywhere near complete in that AZH have so many more resources to include outside smarts and hicks, nor does it include all the costs but just at face value, buying at 40c a share has to be a bit of a bargain...
jorc in, page-8
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