Gold Price, page-1357

yeah he tells a good yarn, he's been pretty tight lipped (more than usual that is) about the SS/feasibility, usually when he gets like that there's something brewing. I think the 50/50 deal/partners arrangement could be getting to the pointy end and hairs are getting split. The fact that he was due back in Brazil 4 weeks ago and stayed on in Kal is also a tell for me, that either he's confident in Sergio's skills or he's really seeing potential in Mulgabbie.

There'd have to be at least 1,000 plus of profit per ounce, so at 30,000 oz/pa there's 30m net profit to split.
More likely the SS or Feasibility study will show that our asic are less than 2k so @3,700 AUD gp (51m) it's solidly in the money. So it's gonna spit out money in as little as 18 months.
I'd prefer to be conservative and go with the lower amount and even say 20,000 oz pa (10m to us).
Plenty of scope for growth in ounces, as he was recently talking of taking his universal DD/RC rig back to Mulgabbie for a burst on those faults, being his rig it's entirely up to him, but as an investor I sure as shit hope he does. No point having all his rigs just sitting there ay. I know he wasn't impressed with the lack of investor support 2 years ago when it came to drilling for gold but times are surely due to change at the junior end soon with the gold price climbing, right?

We will need some cash at some point , which I can't ignor, but in his opinion we've got plenty for now, I don't know how he does all this work so cheaply, a cr I thought was due a yr ago, but somehow that 1.1m is getting some milage, thank god. At least the Bocca projects gone and we won't have those payments (it's a dud, massive 200m pegs of puss).