Full disclosure, i am all in on this stock for many reasons posted across the various boards.
I think your statement is true and valid regarding the ann in isolation, its good to see different views and at times a bit of a sanity check instead of blindly going along with the 'everything is good' narrative.
Holistically, this is one piece of the puzzle for AAR, feysville being a satellite deposit of relatively small scale (at this point) and i guess been viewed as a bit of a bonus play, while not really 'high grade' when compared to peers on the ASX, the slight increase in grade is actually enough to offset some 0.6 -1.0g/t Au ore in the scoping mine plan. Considering Mandilla as the flagship project, Feysville allows the economies of scale model to play out longer and with less risk during the periods of marginal grades.
All this being said, It is not hard to make good $ in the current gold climate and i suspect a modest capex for the CIL build, with hopefully a few extra tanks to pump volume through.
Keen for more open discussion on here and welcome your thoughts!
cheers,
GT
AAR Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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