I believe that one of the neighbours should take it over, it seems logical to me. The three operating plants, all within about 20km of LJN4 are very large but are not being operated 24/7 because there is not enough ore to feed them.
But the company could fund its own plant and produce 150,000 ozs plus per annum at very low costs.
The last feasibility study gave an AISC of A$1,377 per oz production cost and a 12 month payback.
The revised feasibility study due for release soon will show even greater returns.
Argonaut have had the mandate to help negotiate the debt component of the funding and I believe that news on that is imminent, probably after the revised feasability.
Gold Road produces 150,000 ozs per annum and has a market cap North of A$2.5bn.
The size of the prize is huge and shareholders will be rewarded by takeover or production commencing.
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