How much gold resource at Gnows? Previous miner only outlined 13,777 ounces. Let's say EMU can expand the resource to a total of 75,000 ounces amd reserve of 50,000 ounce. It's only a small amount. How much is the mining cost and toll treatment cost? Let's say the profit margin is 25% of selling price ($1800/ounce), the total profit is only $22 million (or $7 million per year for a 3-year mining life). Not optimistic at all!
Ann: EMU's Maiden Drilling Programme Confirms High-Grade Gold, page-127
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