Cashed up, low cost gold stock yet to double like most of the other good ones.
Owns Shambesai, a shallow gold deposit with a JORC of 700000 ounces.
2013 BFS shows project to be low-cost, high-margin open pit operation. First gold pour late 2014, Capex very low at $41 million. Payback period quick at 11 months.
Cash costs/Opex lowest going around at $387 per ounce.
Metallurgy - no problems there with 84.6% recovery using vat and heap leach process.
Has other projects, and will be drilling at its 500000 ounce Obdilla prospect, 7km from Shambesai.
Has fallen 65% this year, now formed a solid base at 5.5c.
