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1.1¢ greenstone resources limited

Not forgetting the milling costs.

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sandfire

2,570 Posts.

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01/02/24

18:12

Post #: 72190978
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Originally posted by sandfire ↑

I will just play the devil's advocate.
The decline development started at the beginning of May 2021.
The first 20,400 tonnes was milled early Jan '22, so there is a large cost in development.
The agreement was to mine down to level 3, maybe FMR was trying to recoup development cost.
The grades improved slightly with each campaign (1) 0.90 g/t (2) 1.48 g/t (3) 1.71 g/t.
The last milling 24,000 tonnes for 1321 ozs * $3,000 = a$3.96m gross.
The final number's from FMR for the trial would be interesting.
Also FMR had an option to mine Burbanks Nth a few months earlier, hopefully this will be mined shortly.AIMO.

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Not forgetting the milling costs.

GSR Price at posting: 0.7¢ Sentiment: None Disclosure: Held
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