vontrader wrote:
> Results were pretty impressive
> 50kozs in the middle of nowhere isn't going to rally much support in this market,
>but if they start moving into the 1Moz+ target at decent grade then it starts to look cheap
My point is -- it isn't the middle of nowhere ... it appears to be about 40 or 50km from the Grosvenor gold processing plant originally built by Perilya, and now owned by RNI ... who claim a production cost under A$1000 for HALF the grade (2g per ton) that ALY have here (>4g per ton).
So, even just 50,000 oz is about $70million of gold, or about $20m in profit. I don't know how much costs rise when you have to truck the ore that distance ... if that is even feasible ... but at least you don't have to build your own plant!
Ann: High Grade Gold Hits from Bryah Basin , page-14
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