Lucky ain't in it for 2-3m oz

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BreakingBad01

381 Posts.

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10/05/17

11:07

Post #: 24591246
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Originally posted by thunder54 ↑

I frankly couldn't give a ratsass about anything beyond the JORC, the overall property probably has 10Moz+ in it but I am not interested in what happens 3-4 years from now.

The way I see it this raise eats all of my JORC profits.

$50 an ounce on is pretty standard minimum for JORC resources, with 2Moz expectation thats my baseline, so before this raise I was looking to rebuy around 3cents, that leaves me with around 1.5cents meat on the bone before we reach $50 an ounce, so buy 3cents sell for 4.5cents, pretty good margin.

Now that 3 cent buy with 2Moz expectation the profit margin at hitting $50 an ounce has now collapsed to only 10%, so buy 3cents and sell at 3.3cents.

This is just from my point of veiw if you are playing a very long game then thats your right, me I just don't things it's smart there are easier ways to make money, than waiting years on end in hope only for Klaus to probably do another bonkers raise right before you are about to get paid.

As for today how did these guys agree to 5cents they must be thinking long game very long game, they will need atleast another 2Moz discovery to justify this investment.

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Lucky ain't in it for 2-3m oz

ANL Price at posting: 4.0¢ Sentiment: Buy Disclosure: Held
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Lucky ain't in it for 2-3m oz

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