I dont usually worry about looking at the value like that. I look at what we will make per ounce after mining and processing.
I would consider $500/oz return after sales to be a rough estimate. Considering the shallow depth and likely strip ratio, we could squeeze out another $100-$150/oz.
Obviously the above can be tweaked when the plans and mining/processing options are made public.
As for your question, I'd be happy to pay around $125/oz to buy this company right now. Add Kelly to the mix and you would be looking at a price of about 1.5c to 2c/share.
I'm still buying those lotto tickets. LOL. If I happened to get my hands on atleast $5m i'd be on a plane to Vic to do a deal with the guys quick smart. I'd rather we had the money to drill and develop than buy on market.
Doesnt hurt to dream a little.
Scorp
PRE Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held