Comrades, The Munda starter pit is funded from Jeffreys Find.
That's very good news for our collective because this is the money machine of the company conceivably for the coming five years.
There is no doubt in my collective's mind that it has made a shrewd decision to mine this alone. The mere fact that it is now mining dirt at the mine says to me the company is a 'can do' one and not one of just talking.
A 6100-ounce target is conservative as all hell and we reckon they will achieve that. Either way the company is looking at a $10m+ profit to lay the path and smooth the way for the real game which is exploiting the 150,000 ounces they have at Munda.
How much of that can be mined? If you said 100,000 ounces surely that would be a fair assessment? At the very least that means four years of mining with 25,000 ounces per year. Auric's numbers show that it can be done and that with $2000 an ounce profit that is an incredible $50 million in free cash per year.
Wow! That makes us stand up and take notice of what's going on there.
AWJ Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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