Beacon news: LADY IDA PROJECT – IGUANA PRE-FEASIBILITY AND ORE...

Beacon news: LADY IDA PROJECT – IGUANA PRE-FEASIBILITY AND ORE RESERVE HIGHLIGHTS
On a 100% basis Beacon Minerals Lady Ida Project - Iguana Deposit only:• An Ore Reserve Estimate which constitutes 100% of the ounces in the production target in the Prefeasibility Study, stands at 3,434k tonnes (5% proved and 95% probable) at 1.20 g/t Au for 132.2k ounces (7% proved and 93% probable)
• Project pre-tax free cash flow estimated at A$177.1 million (undiscounted) at a flat A$3,600 per ounce over a period of 53 months• Mine life of 23 months and processing life of 53 months at an average AISC of A$2,111 (gold is A$4,619 today)
• Establishment capital is estimated at A$4 million which includes site infrastructure and haul roads
• Prefeasibility Study is modelled as ore being hauled 43 kilometres by road to the Jaurdi process plant
• The Mineral Resource Estimate totals at 17 million tonnes @ 1.11 g/t Au for 609,400 ounces inside an optimised A$4,000 pit shell

What I like is the tiny $4 million build price and today's margin of $4,619- ASIC of $2,111 = A$2,508 free cash flow per oz or $333 million on just reserves, ignoring resources of 609,000oz. Being grade is 10% less on resources; call it 20% less free cash flow or A$1,218,000 free cash flow on a $110 million mkt cap company. More than 10x mkt cap on just one pit just for resources not reserves. This is what high gold prices can do. Correct me if my math is off.