Ann: Argosy Delivers Exceptional PEA Results for Rincon Project, page-278

Thought I would write up a quick cost (admin) for ORE as there's been some debate regarding G & A costs.
Looking at ORE we see they had full year costs for Admin at $8,843,000 for Corporate in Brisbane, minus $727,000 (strategic placement) now considering their Directors / Board remuneration is $2,667,000 I think it is fair to say AGY will be nowhere near this. Lets for argument sake take 50% off ($1,333,500) as remuneration also covers Borax leaving $6,782,500, I will also leave in the share based costs but probably should be considerably lower. They sold 12,470t which works out to be $543/t, add this to AGY if you want and its still a massive margin, bear in mind there already is some G & A costs in the PEA.


These are just some quick calcs on a Saturday morning and use my assumptions, all the above is IMO and please DYOR.