big juicy dividend declaration this week, page-12

There should be something like 14c cash left over (give or take) plus they are more than fully funded for the next three years with royalty cashflows $20-30m, there is the tail end of White Dam and $20m if/when they sell Mt Colin.

So you are going to be left with advanced exploration, cash, royalties, gold revenues, sales proceeds and a couple of cents in franking credits in the tin left over after the div/cap return.

A newly listing explorer would hopefully trade with some enterprise value. At this point the market isn't giving it much (if any when you consider future cashflows). The value will come if they can prove up CCP mkII quickly.