based on the figures the company has thrown at us, i have a net profit to MAR ( after partners taken their share)of $9m in the first normalised year of operation assuming a 80% recovery rate and the 35,000 oz they have as an out put.
Could easily do $13m ( their share ) but I am assuming
a) they want to be Conservative and/ or
b) they want to ramp it up gently.
No matter, when you are getting $9 large on a market cap of $5-6m where your JV partner wears all the hurt, its a head turner.
The MD picked up 5m shares on market a .005 recently so hes either stupid or rather inside the curve on this.
Flux
lorena update?, page-9
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