Ann: September 2017 Quarterly Report, page-9

I believe there is a 30% tax rate that has kicked in (tax free period has ended, I think), so you need to factor that in or you will be over-estimating.

However when converted into AUDs it still looks good.

Problem of low reserves has to be factored into price, even if the resource is much higher (but there could be extra development costs in accessing that - more costly mine shafts to be built?).

loki (look on the downside before you jump in believing the upside stories said the Joker.)