|Mr. Anthony Byron Billis, 'Anton' serves as the CEO and Managing Director of RAND Mining Ltd. Billis has been an Executive Director of Tribune Resources Limited since February 22, 2003 and RAND since January 22, 2003. Both are ASX listed producers. Are they typical? Not exactly.|
The East Kundana Joint Venture (Northern Star Resources 51%, Rand and Tribune 49%) is an operational underground gold mining project located in the Eastern Goldfields of Western Australia, 25 km north-west of Kalgoorlie. The project comprises three producing underground deposits, Raleigh, Rubicon and Hornet.
|Grade is high and costs are something between $ 400 to $ 600 per, meaning operations are highly profitable and have been for many, many years. And there's the rub. What 'happens' to the gold? Something around $250 million (nobody knows for sure) 'worth' of bullion from the two enterprises is stacked at the Perth Mint, but that gold is booked at 'cost' not 'market value'.|
In April 2013 the twins were then trading on a PE multiple of two. At $85 million, their combined market cap was described by Anton Billis as "about right".