Alex Scanlon:
We have articulated an objective of producing annually 150k ounces of gold per annum..reflecting the junior/mid tier style producer... relating to a mid sized gold producer...
and see the potential to support that with our existing assets as we know them
* Anticipates about 125k ounces roughly p.a. from known plus extensions.
OK this amounts to $450mil in revenue per annum, less costs.
Exploration costs very low at approx $12 a tonne of ore from memory,
production costs will be low from the ability to take the Tunkillia mill out of mothballs and fire up with some new equipment.
The exciting part is this is just a stage, which supports further exploration. So it's essentially going to be largely self-funded and thereby largely immune to the cost and revenue raising pressures other explorers face.
In five years time, we can be in the position to revise that production target upwards.
A very well thought through and executed plan.
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