- Joined
- 18 February 2006
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Breathe, breathe, ok having taken a few deep breathes let me say the following
While I believe the JORC is ridiculous and pathetic at an $800/oz margin 16k oz's can still net $12.8m = NET 9c to MXR applying a discount factor of 1/3rd that still = 3c NET to MXR
Given cash and asset backing stands at 13c I see little downside from these levels
however I am still very dissapointed with this JORC
While I believe the JORC is ridiculous and pathetic at an $800/oz margin 16k oz's can still net $12.8m = NET 9c to MXR applying a discount factor of 1/3rd that still = 3c NET to MXR
Given cash and asset backing stands at 13c I see little downside from these levels
however I am still very dissapointed with this JORC