Are we over 3Moz AuEq already at Minyari/Geo-01?
- 2022 Scoping study says 1.8 Moz Au, not including 0.6 Moz AuEq from Cu, so this should see us at 2.4 Moz AuEq now, with gold prices >20% higher they can lower Au cut-off from 0.5 g/t to 0.3 g/t for open pittable resource (if this doesn't impact on grade too much, I have not seen some grade/tonnage curves from last scoping study), this could bump up Minyari easily to over 2.5 Moz AuEq. Also, of the top of my head I can't recall any very good drill hits post 2022 at Minyari that could significantly increase resource?
- Geo-01 drilling wasn't too flash so far, but could give us at least another 500koz for the maiden MRE?
So all up easily over 3Moz AuEq, mostly contained in open pit environment. Compare that with AZY market cap of ~60 million AUD with Greatland Gold at ~600 million AUD, with similar in ground metal value (they have 30% of 8.4 million AuEq), meaning we could (should) re-rate 10x from here over the next few months. Given their depth of ore and our other projects we are worth more in my opinion, perhaps not now with them being a couple of years ahead, but soon...exciting times ahead indeed, me thinks.
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