These are pretty aggressive assumptions.
Given the lack of continuity to the north and south I would say only 500m length is economic. Width more like 160m (drill spacing is 80m). Your depth assumption is probably fine (maybe some upside infact). SG should go down as this is soft clay for the top 80m or so, only a few hits in hard rock atm.
500m (length) * 160 (width) * 100 (depth) * 1.5 (sg) * 1 (grade) / 31 = more like 400k Oz
Consider Hummingbird has recently acquired Kouroussa (1.18m Oz @ > 3g/t) for 10m pounds + 2% Net Smelter Royalty I'm not surprised by PDI movement at the moment.
That said, 400k oz @ margins pushing 1500AUD is still extremely profitable and I'm contemplating a longer term hold as this is not reflecting intrinsic value at this point.
These are pretty aggressive assumptions.Given the lack of...
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Last
19.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $404.8M | |||
| Open | High | Low | Value | Volume |
| 19.5¢ | 20.0¢ | 19.0¢ | $866.2K | 4.444M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 485704 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 125640 | 2 |
View Market Depth
| Last trade - 16.10pm 07/05/2024 (20 minute delay) ? |
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Last
19.5¢ |
Change
0.000 ( 2.50 %) |
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| Open | High | Low | Volume | ||
| 19.8¢ | 20.0¢ | 19.5¢ | 1156100 | ||
| Last updated 15.59pm 07/05/2024 ? | |||||
| PDI (ASX) Chart |