Clarification on the article featured in Bulls n Bears "Extensive drilling and groundwork are already underway at site with work expected to start shortly to mine a 125,000-tonne starter pit grading 1.8 grams per tonne (g/t) for 6100 ounces of the yellow metal, which should generate $5.3M in quick cash."
An upbeat and optimistic report from James Pearson. We appreciate the coverage from Bulls n Bears. However, the numbers he uses, above, are based on the December 2024 Munda Starter Pit Ore Reserve Announcement, a most conservative assessment with gold revenue projected at A$3,500 an ounce. The AISC was $2,635 an ounce for a targeted 6,100 ounces. Fast forward we now have a gold price at A$5,000 an ounce. The equation looks vastly different:
Now Total Costs - $16,073,500 @ $2635 Total Revenue - $30,500,000 @ $5000 Surplus $14.4 million Actually the gold price at the date of the announcement on 12 December 2024 was A$4,200 an ounce, a full $800 difference from today which is astounding in itself. As each month goes by the potential profits from Munda keep going north.
You could also apply the same concept to Jeffreys Find where there are 60,000t on the ROM Pad. It is now entirely possible the gold is worth circa $2.5 million more than it was on 12 December 2024. The final payday from Jeffreys will be most satisfying for both Auric and BML.
Lots of good reasons to be quietly accumulating Auric stock.
AWJ Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
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