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18/10/16
12:47
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Direct mining costs in PNG amounted to $1,332,110 for the 2016 year.
At the moment, NIU is drilling to prove up 1000 oz, which is only one of four blocks.
That's immediately ~$1.5m profit at current prices.
Now lets see what happens when they prove up the rest, estimated to hold 35000 oz by Mincor.
35000 x $1650 = $57m.
So a potential ~$55m profit sitting the ground,
near our
*operating
*profitable
*upgraded
*cheap to run
mine.
All of this info is in the recent anns.
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