PRX 20.0% 0.3¢ prodigy gold nl

Agree Petey888, whatever the reason for the delay in start up of...

  1. 439 Posts.
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    Agree Petey888, whatever the reason for the delay in start up of mining at Old Pirate today's aussie gold price of plus $1620 x forecast initial production of 60,000 ounces equates to approx. $15m to $18m increase in profits compared to what would have come in at prevailing gold prices a year ago at the height of the 3 year price slump. Even better with all the global currency debasement still occurring and increasing, the trend has now clearly changed, and gold will and is increasingly coming back to the fore for all to see. Also with the obvious uptick in gold sentiment just maybe there will soon be plans to increase production towards 100,000 oz/y once Coyote plant is successfully commissioned. Maybe simply by utilizing the Trial Old Pirate Gravity Plant in conjunction with Coyote will achieve this outcome at minimal up front cost.
    This all seems to my mind seems far better than having depleted our valuable in ground gold resources at the recently prevailing depressed prices me thinks.
    With the increasing Gold prices now occurring combining with reduced mining/fuel costs in Oz the prospects for new high grade near surface Aussie gold projects such as ABUs Old Pirate is continuing to brighten considerably and one day soon the Sun will shine on ABU again. Sure there will be bumps along the road but producing at the current gold price means we will be /are already plus $15m ahead and the delayed start up pain will soon be forgotten.
    Hopefully in next weeks Dec Qtr Report Darren Holden will at least indicate the timeline to mining this year so we can all just focus on the obvious very bright future ahead.
    Cheers
    mamba
 
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