Here in Nov 2023 are the results of an equivalent JV with BML for 7500 ounces at a grade of about 6.64g/t by my calculation.
Not sure what GIB will be targeting in particular but there is the 110,000 tonnes @ 2.2g/t for 8,000 Oz Au indicated and the 1200 Oz in the old stockpiles.
The average gold sale price was AU$3,334 per ounce. Currently it is about $5150 per ounce.
Total revenue $24,900,000, total project cost was $11,880,000. Rough as guts $340 per tonne mined by BML, would hope for economies of scale to reduce this over 110,000 tonnes plus the old stockpiles which are cheap to dig.
Probably a worst case scenario but 9200oz*$5150 = $47,380,000 less $340*110,000t = $37,400,000
$10m cash flow, $5m profit each.
Hopefully the actual project costs are much less.
Ann: Edjudina Gold Project - Contract Mining Agreement Executed, page-3
Add to My Watchlist
What is My Watchlist?
