My interpretation of this announcement is
1. Without any extra drillling, we are adding 110,000 ounces from the satellite pits (back of the envelop calcs net earnings= $55m to $85m)
2. We are now seeing the benefits of the prospector model, we just added $55m to $85m to the company that can be exploited quickly, where can you find value like that equivalent to an additional 6 to 9 cents of our current share price.
3. Viper/Ntiola definitely had great grades looking at the diagram that Randgold, took us for a ride on that royalty deal but anyways.
3. Only 2 additional holes to for viper/ntiola to explore any extensions and domba (domba look like had potential) to be kept the same
4. This does not include Koting ... which i think will be a real kicker for us in both the short term and longer term (regional)
5. It will be interesting to see the turnover of the drill results of the tailing, starting the clock now for the initial northern results
6. Morila mineral resource still yet to be completed.
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- Ann: Satellite Pit Resources update delivers 1.49M oz of gold
Ann: Satellite Pit Resources update delivers 1.49M oz of gold, page-12
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