Couldn't agree more Fiendish.Fishinnick got me thinking. I did a...

Couldn't agree more Fiendish.
Fishinnick got me thinking. I did a few quick calc's and reckon the current valuation is around $100/oz for PIR and current resource. Taking into account cash etc.
last year the average take over price paid for gold resources were $90/oz. This was with an average gold price of considerably lower than today's (-$200/oz). The t/o price was $200/oz if in production. So you can see what value this kind of derisking adds!

Anyway, if you plug in 5Moz and use a $130/oz t/o price(my number taking into account higher gold price) you get $2.70/PIR share.

This I believe is conservative and given that we've only been drilling for 9 months, not considering heap leach of low grade stockpiles or drilling on other targets.

There maybe holes in my calculations but I think it's ballpark ok. Very happy to here other views..

The obligatory DYOR of course :-)