Binnie, Give me a break - your simplistic arithmetic lesson is...

Binnie, Give me a break - your simplistic arithmetic lesson is only useful for what it concedes - WGX AISC may be A$1000 or less ....do you think for 1 minute that WGX would have agreed to this deal if they didn't think there were many multiples of 22,000 oz's on offer from Cannon UG ? Cookie is no philanthropist!
All the Cannon infrastructure was built by WGX but funded by SAU (with loan money @ 8% from WGX) and now this infrastructure is effectively owned by WGX .... nice one Cookie.
Also, the original deal was that the proceeds would cover all WGX's cost of production (AISC) and give WGX 50% of net profit .... again a low risk as it was a high-grade resource ... another nice one Cookie.
The original estimate of the Cannon open pit was 100K oz's plus, more with George's Reward resource added. What was actually mined was a little over half of this from the open pit ... the other half (or 3/4) is underground.
I repeat - this was a great deal for WGX, and the best that can be said about SAU result, is that beggars can't be choosy ( ? )
One more thing - the reason for the low liquidity is not that this penny stock is 'too expensive' but that there's nothing being announced to attract significant buying ... if after a 15 to 1 share price reduction, SAU announced a 5 for 1 share number expansion .... would make SAU the laughing stock of the ASX.
It certainly would confirm SAU as a penny stock, the very thing SM was keen to avoid.