The presentation reiterates what has already been announced except for: -The emphasis on potential bonanza -The possibility to upgrade plant to 200K ton P/a throughput for $2mil.
The upgrade to 200K ton P/A is interesting because assuming that the average grade is 12 g/t, this would mean 2.4 million grams P/a or 77000 ozs per year.
This is nearly twice the forecast rate of 40K ozs P/A.
The current POG is $1366 AUD /oz which would leave a healthy $800 AUD oz profit or potentially $61.6 mil P/A.
With a P/E of say 10 & 336 mil shares, this could yeild a shareprice of $1.80.
Production over the next few months will certainly be interesting
Cheers Moorookamick
KRM Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
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