ok, AUD. Obviously the share price can still go down, but this...

ok, AUD.

Obviously the share price can still go down, but this is why I think its a good time to start accumulating.

these are some facts first, straight from the last audited yearly report . I'm using a rate of 72 AUD to USD



So using those estimates, borrow 1BLN AUD and make offer of 2.45 CASh a 22.5% premium to todays price as everyone is seemingly depressed.



so at 2.25 all cash, selling all those assets, (using lower ranges)

your left with 92.5M debt

after giving all the cash from sales and cash obtained within the business

PLUS MT C, something which according to last audited report made close to $100,000,000 AUD EBITDA in 2018, which was up last year, has many years of mine life to go following a big upgrade
on the basis of this back of envelope calculation, Id say $2 represents very good value.