Cheers Joel,
RMS paid about as high a premium as I can think of in the sector, and... SPX shareholders would have... if been left alone, not even been able to justify getting a plant built with the resource they had (and been diluted to hell). For some reason, I had been thinking that RMS paid around $200m for Penny, but... $275m, before the $50m+ they have spent on drilling, studies and development, means RMS have spent approx $1400 AUD on each reserve ounce at Penny, before it any got out of the ground. Add in the $750 AUD production costs, and the AIC for Penny is north of $2150 AUD. Yes, it offers a good margin at spot prices, but... if you look at the POG back when RMS took out SPX, dang, it makes me realise how bold RMS was!
If POG in AUD had never gone higher, then... they would be making a loss on Pennys 230k reserves.
Cheers for the differing opinion @m0ngy but... I can only disagree with you strongly.
Ann: Penny Gold Mine Update, page-25
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Last
$2.16 |
Change
0.040(1.89%) |
Mkt cap ! $2.494B | |||
| Open | High | Low | Value | Volume |
| $2.19 | $2.20 | $2.14 | $6.902M | 3.202M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 221 | $2.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.16 | 36399 | 6 |
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