Nice Article on WG - Very well put together!, page-44

I think it depends on how one does the valuation !

Simple fire sale value would say 690,000 Oz at USD$5/Oz (insitu) = USD$3,450,000 then IGS 35% = USD$1,207,500

Higher end value given proximity to others, ounces insitu and early production (heap leach) and expenditure plus aquisition costs i would estimate as follows;

609,000 Oz +other considerations estimate = USD$2,940,000 @ 35%

I believe it would generate more free cash flow if early heap leach production was done with quick payback period of CAPEX would generate a couple of USD$ million pa @ 35% and then increase once sulphide ore was mined or even heap leached if ore had characteristics for this ??