While the delay of G2 has set us back it hasn't devalued the projects. In this past year we have:
- Expanded our exploration target at PMC
- Received positive results at PMC, with the current drill looking extremely promising
- Finished all other tasks at G2, we just need to install the liner Mid Jan and we are good to go for production
- Updated our Taronga estimation which appreciated by $20M. The current value of Targona being a pre-development asset is around $56M, once in production to be valued at over $140M.
- Investigated ways to increase head grade through an ore sorter, which the results came back showing a substantial lift in overall grade (about 3x what we fed into the machine which was 0.15%, making it almost 0.45%). This isn't factored in the Taronga valuation from Mine Invest
I first bought in January 2018 @ 1.2c and while I have been frustrated at management our assets have appreciated in value imo. Overall the year had its ups and downs, delays cause short term SP falls but improved assets cause long term SP gains.
ANW Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
