That is very generous of you Wassa. Glad you enjoyed it (though.. a tale of woe overall). If I ever get time, I might have a crack at MOY or Wiluna!
Hmm... or Eastern Goldfields... I don't even know them all!
You hit the nail on the head... mining should never be a reactionary business. Planning planning planning.. oh and having grade match the JORC.
1000% correct.
The Maloney's are indeed an issue, albeit, I think if the price is right, they will still sell. Why else did they farm-out 50% to PNR. I think back then the idea was to successfully bring it back into production, then let PNR take the lot and they walk away with the $$. Speaking of price...
I think I heavily underestimated how much they have sunk into Norseman. In my post I only looked at what they spent up until PNR took 50%. Yet, after that, Tulla had to tip in....
PNR finished their $50m sole expenditure period in April 2021. After that, TUL was up for 50% of all costs.
TUL was sitting on $50m in cash and $20m PNR shares mid 2021.
Yet it was all gone by late 2022, with a debt facility (still in use) to get them into production.
I think Tulla is in for around $150m minimum and as such, with 17% of the company would need... a market cap of over $800m+ to break even.
These are all very loose assumptions. As who really knows what they might sell for, though clearly not at $0.04 in the recent lows.
Cheers for that Video of Norseman. Absolute classic! Loved the bit about mine life... 2-3 years is the maximum!
Hopefully Norseman operationally is indeed the best it has ever been, with a very supportive gold price.
I also noticed that slide in BTRs presentation (they are an interesting little outfit, with at least someone wise enough to see that a critical mass of assets is needed to move the dial profitability wise. From that list only PNR has 1m ounces in reserves!
PNR will look even better at 100k p.a.
A pleasure @JollyJohn.
Let's hope you are right @legaleagle88
- Forums
- ASX - By Stock
- Ann: Half Yearly Report and Accounts
That is very generous of you Wassa. Glad you enjoyed it...
-
-
- There are more pages in this discussion • 81 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add PNR (ASX) to my watchlist
|
|||||
Last
9.1¢ |
Change
-0.003(3.19%) |
Mkt cap ! $574.0M |
Open | High | Low | Value | Volume |
9.3¢ | 9.3¢ | 9.0¢ | $658.9K | 7.191M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 285109 | 9.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.1¢ | 6017 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 285109 | 0.090 |
4 | 391495 | 0.089 |
1 | 100000 | 0.087 |
1 | 10000 | 0.084 |
2 | 26505 | 0.083 |
Price($) | Vol. | No. |
---|---|---|
0.091 | 6017 | 1 |
0.092 | 205914 | 2 |
0.093 | 722827 | 2 |
0.094 | 45089 | 3 |
0.095 | 2402715 | 9 |
Last trade - 16.10pm 24/06/2024 (20 minute delay) ? |
Featured News
PNR (ASX) Chart |