Morning all.
@Wallytheworker Agreed mate.
Anyone that dumps this must have a need for the money and that is their business but I also think it a little dumb.
Right now we have an exploding GP just as expected.
I think it still has more gas in the tank yet.
I expect to see $3,000 US which could put it at $4,600 AUD, This year.
Today we sit above $3,750 yet just a week ago we were excited about $3,650.
Every day that passes means higher margins and larger bottom line.
Here is the chart for Gold in AUD with a very decent Cup and Handle complete.
If you think that is not a very suggestive and immediate catalyst then I think you may be missing a clear message that is about to play out.
Let's just look ahead to Munda.
We had 200,000 oz before we got the agreement with WIN and I expect to see more oz's added to the resource now that we can mine that side of the existing pit.
We know that costs have risen but I think the latest price for processing is $75/t
Given that we have a resource of 2g/t we will need to process 2.8mt to get that at a rate of $75 to toll treat.
The total cost would be $210m.
If we calculate the AUD GP at the current price of $3,750 we have a gross, after toll treat of $540m.
I repeat that I expect 2 things to change, Gold price to increase and resource to be recalculated based on the accessibility to the high grade.
Imho that tells me that there is still upside to the $540m yet to come.
I did make a joke with with a member off the board that we need our own mill.
His response was, Do you have a spare $100m?
We can always wish, haha.
Here is the AWJ chart to get a picture of the next resistance level and what we can see as a possibility.
30c really looks like it is within grasping and soon, again imho.
The longer they take to process our gold at the mint, The better.
Profits increase every day that they drag their buts.
Pole pole as they say in Swahili. Slowly slowly.
Kind regards, Wack.
(20min delay)