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45.3¢ ausgold limited

more underground projects have failed and sunk companies...

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Corgi

2,570 Posts.

1829

23/07/24

21:17

Post #: 74881830
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Originally posted by Enoch: ↑

Yes, it is the grade, they will need financian for a mill and there is no evidence of profitability when compared to Spartan Resources and the fact that Spartan has no debt and has already paid for a Mill. As I said I hold both and have done extremely well with Spartan. If you listen to Mine of Management a while back when they were talking about Calidas's issues they mentioned, they thought it might also be the reason why it is holding DEG back. Calidis is now a mess because they had hedging in place and borrowed from Macquarie. I had a brief look at there PFS and DFS and it showed that Margins were suppose to better. Production and margins were significantly worse. As a result they were never going to meet delivery of the hedges and they were losing money as the hedging was done at a lot lower gold price. They said even at today's gold price they still would of had issues, based on production. So there is still a lot of risk in this.

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more underground projects have failed and sunk companies compared to open pits. in past 15 years.

more projects acquired are open pit projects compared to underground. in past 15 years.

AUC Price at posting: 3.7¢ Sentiment: None Disclosure: Held
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