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clock Created with Sketch. 07/11/21
16:50
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Originally posted by nugget_hunter:
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they have doubled their resources in the last 12 months. thats where the drilling dollars went.?! "As a result, a number of important and positive outcomes have been achieved over the past 12 months whose highlights include: • An 99% increase in Mineral Resource at Lake Carey from 439,000oz @ 2.3 g/t Au to 874,000*oz @ 2.4 g/t Au : • A scoping study into a Matsa owned and operated processing plant at Lake Carey returned a favourable outcome improving the bottom line at the Fortitude mine by A$33M • Positive cash flow of A$96M from the Fortitude and Devon pits utilising a proposed Matsa processing plant: • Adopted a clear strategic pathway to realising vision of transitioning from an explorer with periodic small scale mining to a long term sustainable miner with processing capacity: • Suspension* of production at the Red October underground mine to enable a full drill out, mine design and rescheduling of the operation: • Established resource and mine development hubs to provide future operational and scheduling efficiencies: • Disciplined and diligent execution of a robust exploration and development project pipeline clearly aimed at delivering on the strategy If you are betting on gold rising, then picking a cheap 20m stock, with several niche assets can return cash flows
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And only $1.7m in the bank after selling off every saleable asset and doubled the shares on issue over 2 years. The sp tells the tale very clearly unfortunately.
(20min delay)