TBR 3.26% $4.75 tribune resources limited

Valuing TBR and RND without their crossholdings, page-6

  1. 323 Posts.
    lightbulb Created with Sketch. 7
    Okay let me start with an easy one. As at 30Jun16, TBR and RND together had 190,767 ounces of gold on hand. At A$1565/oz today, that's $298.6m of gold as an asset. Current market caps at COB are $262.5m + $99.8m = $362.4m.

    How is it that
    ?

    Are you estimating the group has added ~40,400 ounces to the Mint since 30Jun16 to today? Help me understand, Mr Worzel!
 
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