I agree KKR. We spent $65 million capex at Federation, and $11 million on exploration. After that (and the equity costs associated with this spending) we made a slight net profit. That's a good result given Hera was closed so we lost a lot of income. I see the capex at Federation will remain high for 2025 so I wondered if anything was said as to how this would be applied? Will the Hera mill be upgraded? There is a lot of high grade gold near surface at Federation that will give us a cash boost so it's a matter of steady as she goes for the next 12 months and we'll reap the rewards. Given we have $116 million in the bank, the current market cap makes the company cheap. Gold and copper prices are very fruity so Federation will pay well. It would be nice if zinc was higher since this is a big money earner for us.
AMI Price at posting:
16.3¢ Sentiment: Buy Disclosure: Held
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