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clock Created with Sketch. 21/10/21
09:43
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Originally posted by nuggetfever:
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“I've had a chance to contemplate, cogitate and ruminate about this deal for Apollo ... and I'm left looking at Bardoc. Their announcement of 27 September to pull the pin on the FID for their project development just north of Kalgoorlie has me scratching my head about the logic of the Apollo transaction. Bardoc has much more resources, including reserves, than Apollo and a much better grade (1.8g/t v 1.2g/t) too. Fair enough that Bardoc is both open pit and underground whereas Apollo is pretty much one big pit but Ramelius made a point that they think that underground is where they can increase the resources at Rebecca. If Bardoc doesn't stack up, what hope Apollo?
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News out that Gold road making a superiors bid for Apollo at $0.56 a share for $166M which gives you a rough $150 / ounce. With gold looking as it may move up into year end, things are looking very positive for a sale of the BDC gold assets.
