re: Ann: Mako Mineral Resource Increase and B... Fredo, agree...

re: Ann: Mako Mineral Resource Increase and B... Fredo, agree with you - sentiment is awful and has been made even worse by the freebie options which should at least have a strike price @30c.
However, despite poor sentiment, or maybe because of it, seems really undervalued:
- last Ann: milled over 6000 tonnes February (vs. mill capacity 50,000 tonnes pm)
- this Ann: increased Mako Llanberris resource by 25% since Jan (off low base) with more assays awaited and drilling underway

Given cost reduction, should be very close to cash break-even by now.

Can see over next 12 months mill volume increasing month to month and oz produced - while at same time resource is grown faster than what's mined.

Lot of room for growth after next 12 months given size of mill. Only question for the big growth scenario is can they keep finding economic gold under Ballarat?

I'd like someone to correct thinking where I'm wrong but it seems given cash position and asset position, shares being given away under 20c. Maybe it will take another Ann or two...

No1trishada - you don't grow resource oz by reducing average grade, you're maybe getting mixed up with reducing cutoff grade.