Shareholders of RVR and AMI should be closely following the Dargues Reef and Hillgrove goldmines both in NSW.
AMI's Dargues Reef mine is forecast to produce 45-55K0z over life of mine (five years). The plant processes ~360K/annum.
RVR's Hillgrove mine is forecast to produce 30-50Kozeq over life of mine (five years). The plant processes 250K/annum.
Very similar underground high grade operations. However, RVR paid ~$4M for Hillgrove and AMI paid ~$190M for Dargues Reef.
Both have promised upside with strong exploration prospectivity. One is shiny new and other new 10 years ago. One is having the cheque book thrown at it and the other is being cobbled together by old mining-dogs.
It will be interesting to see which mine brings which company (shareholders) the most value.
AMI Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held
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