MAU has 1,928,000 ozs at 2.04gms. New data and with a new resource estimate about to be increased.
You really need to look at A$460 per ounce for the reserves that GMD has bought and GMD questions that number itself.
Genesis Minerals have bought 546,000 ozs at 1.3 gms of Reserves and on very old JORC data for $250m or A$460 per oz.
Genesis Minerals are calling the acquisition the "Laverton Project" but it is really a "Mining Camp" with 31 different orebodies over a large area.
They also say: The Global Mineral Resource is inclusive of historical JORC 2004 estimate of 4.8Mt at 1.6g/t equating to 240koz contained gold reported by Focus.
The Competent Person has not done sufficient work to classify the historic estimate as mineral resources in accordance with JORC 2012.
It is uncertain that following evaluation and/or further exploration work that the historical estimate will be able to be reported as mineral resources in accordance with JORC 2012.
Nothing has come to the attention of Genesis that causes it to question the accuracy or reliability of the historical estimate.
However, Genesis has not independently validated the historical estimate and therefore it is not to be regarded as reporting, adopting or endorsing that estimate.
And they say various Third-party royalties range from 1.0-5.0% across the acquired package. But not which leases have royalties on them.
Magnetic has to be worth much much more than the current $1.80 on what GMD paid for the "Laverton Project".
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