You should focus on the 1,500+ depth of these high-grade gold shoots in the region and the geological similarities to the Victoria's Goldfields that were all mined out during the 1800s, since the Reefton Goldfields were part of the same geological formation, and the old-timers in the Reefton Goldfields left a lot of high grade gold in the ground for Siren.
Couple these slides above, with SNG's announcement from late May. Where SNG is targeting between 250,000-500,000Oz of gold at 5-6grams per tonne for Alexander River alone. Then you understand why everyone is so excited.
250,000Oz-500,000Oz at today's gold price ($A2,365/Oz) is worth between $A591million and $A1.182Billion.
All we need is any of these major milestones below to be achieved by Siren, we'll see a significant share price rise for Siren Gold.
1. JORC Resource
2. Mining Lease Application
3. NZ Govt mine cost assistance (as we saw with our neighbours)
4. Mining Lease Confirmation
5. Funding for the decline construction (underground mine)
6. Mine construction commencement
7. Gold production and sales/cashflow positive position
Given that the high-grade gold is structurally controlled from surface, the Capex and Opex costs, would be some of the lowest on the ASX, hence profit per ounce would be one of the highest.
With rapid gold production once funding and licenses are in place.
And Alexander River is 1 of 8 High Grade Gold projects that Siren is working on in the Reefton Goldfields.
