So much misinformation coming from non-holders, indicating 1of 3 things; they haven't read the announcements, they are so low IQ that they are mentally unfit to be investing, or they are deliberately misrepresenting data out of some weird spite towards the company (footy team mentality or lost money).
All these questions about if there will be enough gold??
The tailings will provide over $24M AUD in net profits (factors all running costs of the mine), and will last until at least May 2021 (providing no upgrades from the current drilling).
We have an existing JORC resource at Morila of 32Mt at 1.26g/t for 1.3Moz of gold. This resource is going to be upgraded in quantity and classification imminently (before any additional drilling). Where is the risk of enough gold?
We have a 4.5Mtpa processing plant, therefore the existing resource (if 100% reserve conversion) will provide us with a LOM of 7 years at approx. 165kozpa.
This resource was modelled at $1250 gold price, therefore the AISC must be lower than this.
If you model those figures, this conservatively results in >$100M AUD net profits per year at current gold prices. For 7 years!!
This doesn't factor any exploration upside at Morila, even though it is very likely that we will prove up further extensions with hits like 56m @ 4.97g/t outside the existing pit shell. See cross section below:
But there's water in the pit?! (Rich critique coming from A*Z holders).
We have guidance that it will only take 4 months to dewater the pit ready for mining. As per the above, the tailings will last for at least another 7 months, assuming no extension to this from the current drilling.
I also haven't touched on the satellite resources... the Ntiola and Viper pits will likely hold another 6 months of higher grade oxide ore at surface which can be blended with the tailings to increase output and lower AISC which will materially improve the profit guidance provided by the company.
That is without further drilling to extend the deposits, and doesn't factor in the other advanced prospects i.e. Koting which will add to this. Some drill results from Koting below:
These satellites will provide a "bridge" for the company while the Morila pit is prepared for mining.
There are another dozen or so priority targets ready for drill testing in our 700km2 of untested elephant country.
With ~$100M coming in each year, we are a self funded explorer able to swiss cheese this entire package, our Dankassa tenements, and even look to regional acquisitions for additional tenements or operations.
I wouldn't want to be caught with my pants down not holding if FFX hits another Morila size load when we have a 4.5Mtpa processing plant paid off and ready to go.
Don't forget the tier 1 lithium project.
