Considering GT showed a text message from MQ that he wouldn't even entertain a bid until after mining right.
I daresay he will be fielding some calls. Hopefully they bat them away or delay them long enough to get the figures from the DFS out including estimated AISC so we can get full value for this mine.
I also don't believe in Catch22's 60k ounces, fundamentally if you have 4.4moz you can drop another shaft etcetera or widen the shaft. Put on more machines etcetera to increase the ounces.
Let's put this in perspective 60000 ounces at 5 grams per ton means they only need to process 360000 tons of ore.
With a small underground dump truck of 30 tons of ore per movement that's 12,000 trips. The dump truck would need to do 32 trips a day. If you had 4 dump trucks it's 8 trips a day which is more than plausible that it only takes 3 hours to complete a round trip.
4 dump trucks is not a big operation!
Granted there is overburden to move to get to ore bodies but we aren't exactly busting our guts at that rate. If we open up a secondary section you should be able to do 8 dump trucks and co-ordinate them to get to around 120k ounces imo.
I suspect but maybe GT could clarify that the 60k ounces was in the scoping study because it meant at that run rate the proven resources would last 10 - 15 years.
In which case we may see a much higher potential start rate. So the ounces in the ground model I would go with $200 AUD per ounce would value the mine at $800m versus $120m market cap now. WWI share $600m+ all IMO. Especially given the old 1997 JORC resource is 12mOz.
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Last
1.3¢ |
Change
0.002(13.0%) |
Mkt cap ! $32.99M |
Open | High | Low | Value | Volume |
1.2¢ | 1.3¢ | 1.2¢ | $14.53K | 1.123M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 6225000 | 1.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 1442014 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 5850000 | 0.012 |
15 | 4890977 | 0.011 |
11 | 2908999 | 0.010 |
10 | 2618889 | 0.009 |
6 | 8420000 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 1442014 | 2 |
0.014 | 592856 | 2 |
0.015 | 983588 | 4 |
0.016 | 325000 | 2 |
0.017 | 85953 | 2 |
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