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926 Posts.
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14/11/11
06:58
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When I was a gold analyst in South Africa, as a 'back-of-the-envelope' valuation measure, we used a 1/10 - 1/15th of the in-situ gold value.
Applying this to the 4m oz mentioned by the CEO in the latest brr interview using the conservative approach we get the following....
4,000,000 * $1,700 * 1/15 = $453m
With 129m shares on issue, this equates to $3.54ps.
1/10th = $5.27.
Plenty of upside in this one I reckon.
DYOR
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