Yes we are on a ride to $1. I think it will be a short trip...I reckon if Hera produces 20,000 oz this quarter (which considering the intervals they are now mining, is quite on the cards) then with an AISC of $400 (again on the cards given the last quarter Hera AISC of a tad over $400, combined with the rise in base metal prices) we could get a gross margin of $1400/oz (averaging gold at $1800, knowing we have some hedged at $1747). So just maybe Hera grosses $28 million. The market will see that even if we spend up in the next two quarters, we'll continue to mine extremely profitably, build cash, have a much bigger beast putting through 1.3 million tonnes p.a. at the mills. We will delineate more gold at Chronos and the North Pod...finding it at Dominion and below Perseverance are both catalysts for an instantaneous $1 trip. And to think YTC was once $1.40. How silly cheap is our current price on a comparative basis.
AMI Price at posting:
86.5¢ Sentiment: Buy Disclosure: Held
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