"I know it is still early days with the copper but according to the above, the GOLD price in AUD may have just jumped AU$300.00 for SLR and only a minor gain in the SP today. Get em while they are still cheap I say. :-) "
Not quite;
The copper will lower costs at Murchison, not Mt Monger. Production from Mt Monger is targeting 200koz/yr and at Murchison its 100koz/yr.
So the gold price effectively jumping $300 only applies to one third of forecast production.
I do see it as a big positive though for this reason;
Murchison profitability is not yet proven. Grades are lower (u/g as well) compared to Mt Monger but this is offset to some extent by bulk mining methods when moving u/g. I believe overall cash costs are going to be higher at Murchison compared to Mt Monger but I don't know by how much. That has made it difficult to confidently put a value on Murchison production. The copper credits now offer the potential for Murchison to be lower cost per ounce of gold than Mt Monger. That adds a lot of confidence to potential value of Murchison gold. This never worried me with the sp around $2.50 (200,000oz at Mt Monger is good enough for a sp of $2.50), but above $3 Murchison profitability becomes more important in supporting the sp.
SLR Price at posting:
$2.95 Sentiment: LT Buy Disclosure: Not Held