131000 x $2500(aus)= 327.5 million, if costs of mining were $1500 per ounce, leaves profit of $131 million, but you have all the costs of establishing a mine and a mill, and I don’t know what those costs would be, and there are many more variables, including the price of Gold. I however see the MRE, as a base that can be expanded upon and any further exploration success, would only add to the case of developing a gold mine. In yesterday’s exploration update, they marked the areas where they are going to concentrate on, for the rest of the year, basically going deeper, and I presume this will all be done from surface. If you read today’s investor presentation, it does show where a proposed exploration decline, would be positioned.
SNG Price at posting:
23.0¢ Sentiment: Hold Disclosure: Held
