Did the previous study for Addidi-Kanga give a production cost of US$1300.00/ounce? I think would be pretty high considering it's not even selling for that atm. The Australian average ASIC (cost) per ounce is approx $1000 from memory, a few companies have a cost per ounce of around $300-$500, while a couple of mines right here in Aus have a negative cost per ounce, one of them about negative $400 ounce due to revenue from byproducts by memory.
The cost of mining here in Aus should be a lot higher than the DRC wouldn't you think.
So, what the hey is going on with the $1300/ounce in the DRC?
Are VEC able to mine/processes it cheaper?
I sold on day of the announcement but wondering whether to get back in maybe if I can get any more info on the above. Or maybe once a new feasibility study is done.
VEC Price at posting:
2.8¢ Sentiment: None Disclosure: Not Held