If the outright sale of GW is on the agenda,then given the appreciation of the Gold price,the pressure is on the buyer,not the seller.
At $2200 AUD an ounce the surface mineralisation is highly profitable given the free milling nature of the deposit.
My main concern is the length of time it has taken to advance the project.I do believe the project was acquired in 2010?.
It makes little sense to me that you would be seeking opportunities in South America,when you have a stand up start in your own back yard.
Having said that,a 3.2 mil MC offers little downside
Perhaps I am a little pissed,in that my previous holdings here prohibited me from taking a position in Pilbara Minerals @ 2c.
Using a peer comparison,a MC OF 6-8 mill is fair and reasonable.A buy at these levels.
Ann: Quarterly Activities and Cashflow Report, page-13
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