I would suggest to be a bit extra more patient
@goldnova1. Give it a few more weeks mate.
We are nearly there. JB is down to her last 8mil shares. Put ourselves in QM/BEZ's shoes to understand their need to see JB off the share register before they can open the foodgate in terms of newsflows.
It is a necessity for the company and the partner QM to move forward by getting rid of JB off the register first and formost. This crazy bitch could cause a lot of trouble to the project or at least a hindrance and annoying factor for the board of directors to work effectively to bring the project to production.
If I was QM, I would do the same (getting rid of JB off the share register completely).
In the meantime, let's take a look at BAU gold project in a different angle to see its value here:
QM and BEZ officially started the negotiation process for the off-take and pre-payment deal for 3mil oz of gold deliveries around NOV 2022 as announced by the company via ASX. Of course QM must have done its homework around August/September before it and BEZ announced their negotitation. Obviously QM must have seen a huge and compelling reward in this deal to officially kick off the negotiation process with BEZ. Gold price at that time was around AUD $2500-$2600 per oz as you can see in the graph below. Current gold price is around AUD $3270
3mil oz × (AUD $3270 - $2600) = AUD $2.01bil.
Let that AUD $2.01bil sink in.
QM was seeing a huge profit to enter negotiation for the off-take agreement of up to AUD $9bil gold purchase value at AUD $2600/oz price.
Since the deal was negotiated and later executed, gold price has increased so fast that it has added extra $2bil profit to BAU project on top of whatever profit that the 2 parties already anticipated at AUD $2600/oz gold price just in a bit more than 1 year.
That is insane amount of EXTRA profit potentially gained in just over 1 year.
NOW, what is gold price expected to be in 5 years, and in 10 years and longer? Can we expect average 10% per year like gold price did over the last 10 years, 20 years?
Even at 5% average gold price growth, the extra profit it brings to BAU project is simply mind-blowingly outrageous.
SO, AGAIN. BE PATIENT AND BE AWARE THAT THIS OFF-TAKE AND PRE-PAYMENT DEAL IS SO BIG THAT QM AND BESRA CANNOT AFFORD TO LET JB GET IN THEIR WAY.
BTW, this project is more likely to be 6mil oz eventually than current 3mil oz resource. Everything calculated so far is only from the top layer of less than 100m depth. More higher grade interception at deeper depth has been discovered and will eventually be added to future MRE with more drilling ongoing. Did they mention they are adding more drill rig to bring it to 3 rigs?
