So another 2500oz to be sold assuming similar value of $3130 would yield another $8m ish
So around $10m to be shared between partners plus enough cash prepaid to start further mining of the pit next year,
For at least the same income again next year.
Thank you MD for the much clearer announcement.
I can understand the commercial sensitivity of mining costs and sum held in retention,so that problem has been covered nicely with a combined figure in this announcement.
Well done.
IMHO besides banking $5m you can probably add another $750k to $1m for the companies share of cash retention for next years restart of mining.That leaves the EV of the company,tenements and future income next year from the pit valued in total around $500K - A PITTANCE
I just hope the company has pre-booked next years milling campaign in advance and our partner has plans for a real early start to mining while the gold market for PHYSICAL DELIVERY is so hot.
He could start now if it suits....Hint Hint
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