the real value in cre is not to sell it - but to keep developing it and snag Granny.
Granny is a 4m ton mill and get Barnicoat up to 2m tons - that's 6 million tons ----------- at gms per ton that's
about 387,000 oz apx. of gold.
At that rate costs would probably be about $800 to $900 an ounce $1000 tops.
Work out the maths -- do it that way or sell it now for how much?
We have done the hard yards already.
Keep it running or shut it down if we are cashed up - prove up a load of resources and reserves in 12 months
take Granny from Barrick --------- and have a massive production centre.
have a great day
Pinto
chairmans letter, page-15
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