So what if the process plant costs $250m, bugger all in today's capital requirements for projects. If you can a process plant for that kind of money in West Africa to produce 200 000 to 300 000 ozs of gold pa, that is a good price.
It costs about $150m for a 2 mtpa (new) gold plant in Australia, let alone anywhere else.
AMX is in the process of proving up additional oxide resources to into the FS work, which will get the project going, the sulphide circuit will be funded out of cash flow, when it is required.
Sure the company in my view in the past has over promised and under delivered, and have made some strategic mistakes, and the sp is paying for that now, but hopefully will deliver the right strategy going forward.
Who knows what the future holds, but the markets are crap, particularly for gold, hopefully at some point in the future true value will be realised.
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