I specialize in gold juniors usually. So i can only look at financials.
Having said that this is a play for the big boys. Pre-feas with post tax of 26% is adequate for long-life plays like this.
What i like is a generous application of contingency in capex requirements.
However, the initial capex is a worry as they are looking to debt fund less than 50% of this i presume? Personally i avoid huge capex operations in this market unless they can fund it via debt as it is cheap atm.
Cash position a bit low for my liking but some money will be coming in for SPP.
If say i were to buy in i would wait till feasibility. Most likely there will be an improvement in IRR and capex.
Highly doubt 2.30$ in 12 months. Maybe 1.20$? If things go right.
GGG Price at posting:
29.5¢ Sentiment: None Disclosure: Not Held
