looking at the quarterly spend on exploration / 30-40 $ an ounce should Give us a rough estimate on how many ounces are added, now they talking about 3 rigs Spinning - means - last quarter was only 1? Do we see a triple in costs for next quarterly but also triple the ounces added
very roughly ! Jan - mar ? Apr - jun 2.3M$ / 30 = 76koz jul - sep 6.9$ / 30 = 230koz oct - dec ( need to sell some gl1 shares or receive 10M down payment for resource definition) 6.9$ M /30 =. 230koz
plus whatever had been found in Jan - mar
so my estimate is also we add 4-500koz so make it 2.1-2.2M unless we get some very juicy UG results , perhaps 2.3-2.5Moz
no investment advise.
BRB Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held