The market dwells on the fact that so much money has been spent previously and it’s been closed twice, not the strategy, not the gold price, not the substantial infrastructure, not the value of development and certainly not the ability of this management to rethink, re-engineer and leverage from operating cheaply.
Hillgrove owes Rvr approx $2-3 m C&M, $5 m Restart, let’s say $1-2 m operating cost to date .... the initial purchase was shares not cash.
$10m cost with around $2m gold already in circuit within 2 months of restart, at avg 25% output on a blend of low grade / resource grade material.
