re: Ann: Kingsrose Mining Limited - Silver ... KRM
45 000 oz @ $1400
Cash costs of $150
Margin of $1250
=56 250 000
85% KRM
47 812 500
90% recovery, but higher than expected gold + silver grades = no impact (conservative)
6.5x multiple (Very conservative as most producers trade between 8-12)
310781250
Shares on issue 250m
=1.24 (undiluted)
That is ignoring valuation for exploration upside, increase in production and the sardinia asset
Ann: Kingsrose Mining Limited - Silver Financin, page-4
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