https://unauthorised investment advice/experts/moneytalks-tim-neesham-has-four-...

https://unauthorised investment advice/experts/moneytalks-tim-neesham-has-four-asx-picks-ready-to-get-the-rub-of-the-green/

Neesham’s golden pickOne such goldie, Vertex Minerals (ASX:VTX), has just poured its first gold bar from a rejuvenation of the Reward gold mine at the 225,200oz Hill End gold system in NSW’s prolific Lachlan Fold Belt.

It was here the largest piece of reef gold ever, the 286kg Holteman Beyer nugget, was found.

VTX has just completed the final raise to meet the terms for their already approved US$10m debt facility.

For early cashflow, the company plans to process three stockpiles around the plant which were compiled 15 years ago when the price of gold was just ~A$1,150/oz. Today’s spot gold price sits above $3,700/oz.

“After a $3.8m cap raise, VTX is now funded to get into production for hopefully great returns, given the low cost nature of the high gravity gold separation type ore body,” Neesham says.

“The company has freshly granted mining licenses, with an existing and currently being refurbished gold plant.”

The goldie is also targeting a small part of a bigger mineralised system to start production by the end of 2024.

“With ore sorting and reduced capex, what VTX is doing now is less risky to the equity,” Neesham says.“It currently has a tiny EV of sub $10m, which for its forward catalysts is tiny, especially as it’s now fully funded into the 2-year ‘initial’ production cycle and is based on a >20% lower gold price than the current spot price.”