Ann: Starter Pit Underway at Munda Gold Mine, page-22

While we all look forward to selling Gold when it is at $AU 5500 an ounce there is a countervailing reality.
That is most mills that are toll milling have some of their own ore supply that is currently less than their mill can handle,so sell the spare capacity to the likes of Auric.
Unfortunately many also have stray stockpiles at real low grades lying about that at say $AU2600 would have been classed as waste,or just too low a margin to bother to mill at that time and are a future rehab liability.
That puts a pressure on milling capacity as all of sudden at $5500 bucks there is serious money to be made milling such waste piles.
The reality has been in play for some time, companies like WGX have been munching thru their stray stockpiles to make a few bucks to explore and find new resources and grow their business,following the grades down as prices have risen and also to keep their mills full.

I think a true re-rate will come once we have a contracted milling solution for what we are planning to currently mine.
I would imagine once Lindsay's is settled Auric will contract a milling solution for say 150-200kt or more by a certain calendar date to lock in certainty of tons and processing costs and immediate future cash flow to enable planning future ongoing budgets on.

Regards

DYOR + DYODD In 3-4 months we should have a nice small parcel ready to mill from Munda around 35-40kt plus with the same quantity following on monthly for each of the next 2-3 months.