5600oz of gold dore (usually 90% gold content after smelting) approx $1350p/oz
5600 x $1350 = a tad over $9m
CFR's 35% = $3.15m
Not factoring in any costs though, but a good stepping stone for Cluff. Will give them more working capital, will be touch & go for the oppies to get over the line. Might depend on how quickly they can progress from here but I've been quietly impressed with their progress to date since acquiring the project, especially given their cash position. Thumbs up to management to date.
CFR Price at posting:
0.7¢ Sentiment: LT Buy Disclosure: Held
