I recently cashed out of Beacon Mining. ASX code: BCN
I made a 50% return over 2+1/2 years. I was originbally looking to double my money over 5 years so relatively on track.
Here are some contrasts betwenn BCN and GNM.
BCN have reserves of about 150,000 ounces with a 5 yr mine life. AISC of about $1,100 per ounce and currently producing 30,000 oz per annum. Beacon spent about $20m on getting the gold plant and associated pits and water resources set up. Located about an hour out of Kalgoorlie.
BCN current market cap of $122m and no debt.
Based on your numbers starting at 500,000 ounces GNM could have a market cap around $180m which implies a SP of around 15 cents.
GLTAH and DYOR
GNM Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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