Can't leave you on your lonesome all the time Saltpetie, but that is where you usually end up when posting here.
Back to the announcement, anything over 80% gold recovery is a very good bonus I reckon. I would have factored in copper in the high 80s (say 87%) and gold in the mid 70s (say 75%). Given the high gold to copper ratio this high gold recovery is quite significant. Let's hope larger bulk tests (dare I hope for bulk samples from a test decline) in a few years time deliver the same results.
I am going to guess at a worst case scenario and say it will require raising about $50 million at close to today's prices to get this to a bankable stage, so a 33% dilution. That should get the MC from the current $100 million up to about $400 million.
Waiting 3 or 4 years for what could be a bit over 100% return (or nothing) obviously doesn't interesting many on Hotcopper, but I have always enjoyed being a shareholder and liked many of the decisions made by management along the way. No one has found it easy to keep a company alive in Mongolia, having made it this far, I think they deserve more interest than they are getting.
XAM Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held
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