My back of the envelope numbers show that even if these mob manage to sell all the ore they state they will produce in the immediate term they will still not be ahead.
60,000 t stockpile at (my guess) 1.8 g/t = 3541 oz. If sold at $1650 a contained oz. (unlikely) revenue $5.8 million.
Proposed 15,000 t "high grade" parcel at (high end guess) 3.5 g/t = 1721 oz. Again if sold at an unlikely price of $1650 a contained oz. revenue of $2.8 million.
All up revenue of $8.6 million.
Debts as of today are exceeding $12 million and growing.
CM1 Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
