Ann: Pinnacles Feasibility Study Update, page-11

I topped up again yesterday at 13c.
Good to see a few large orders going through today.
The 13.5c one looked like the 13c bidder just paid up.
The current bid at 13c (22645) is the remainder of a 100,000 buy order.

It would be nice to get some news regarding this year's plans going forward, even if the feasibility and 'decision to mine' is still too early to release. I would also like some more detail regarding the ore sales agreement with SAR however, that will possibly remain confidential.

During this quiet period, i have started looking for other ASX listed companies that have an ore sale agreement in place to see how it panned out for them. So far, i have only found ASX:MAT who have an ore sales agreement in place for five years with Anglo Ashanti Gold Australia (AAGA). MAT operate the Red October mine. It is an underground mine of reasonably high grades (~14g/t). In the initial seven months (with POG $A1750 ((2019)) ) they had ore sales of ~$A16m, costs of ~$A12m and a surplus of ~$A4m. The 2020 AR is not so flattering with a net deficit. It appears that they did a lot of additional drilling so that may have added to costs. Short story is ASX:MAT's sp is lower today than when the ore sales agreement was struck but i have not done sufficient research to explain why. Details of MAT's agreement with AAGA were confidential.

Lets hope AT has struck up a good deal for holders and that the shallower nature (albeit lower grade) of the gold = much lower costs.
Perdy.