Here is my very very simple analysis based on the info at...

Here is my very very simple analysis based on the info at hand...mainly the PFS completed in 2013. The indicated resource was 90,900 oz (29/07/2015 announcement) we have mined 52,605 oz to date, which leaves approx 38,295 oz (there may be some processing loss I am not considering) at AU$1660 = $63.5mil.

The PFS stated underground infrastructure would cost $11.6mil. If you can assume AISC of $1,200, then this is 38,295 x $460 = $17,6 mil - $11.6mil infrastructure = $6mil unrealised value.

Happy for others to have input on this....these are seriously back of the napkin type calcs. A lot of assumptions...

Good luck all...cheers