That gives gross revenue at between $20mill-$40mill p.a over 5 years. Current MC is $22mill or around $37mill fully diluted.
Project financing is likely to be a combination of equity (option expiry March 2018), say $10mill and debt, say $25mill. Debt payback at $1650 POG, is around 1.5 years. Shares on issue likely to be around 250-300k, even after dilution for project financing.
ASX's most undervalued Gold Stock, page-78
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