yeah i guess, do an update on preliminary findings pending jorc confirmation, seems reasonable
check this out from an article in yesterday's Australian, some pretty strong parallel's to the mount morgan story (oz/yr, fcf generation), this is pretty similar to the pattersons valuation and leaves 2-3 fold increase still on the table from today
"On the strength of the CMC partnership, Havilah was able to secure a $6 million loan from Investec to fund the processing plant. It is not the biggest gold mine around, with the initial open pit development taking in 53,600 ounces of gold.
But based on a (lower) $1500 gold price, the mine will nevertheless generate about $40m of free cash to Havilah which last traded at 40c for a market capitalisation of $67m."
Ann: CRB - MOUNT MORGAN DRILLING PROGRAM UPDATE, page-5
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