Yeah been a member for awhile but usually don't participate just like to read what people are saying.
Just to clarify all I was saying is that there is potential more revenue (based on what they have stated in their announcements) than what people are putting into their models using 32% rather than a 7% royalty.
The Company has released plenty of information in order for us to build a basic economic model of the mine. I would say that the most interesting of that information is that the company released the following on the 30th of April: The Panga vein currently being targeted with underground air-leg mining development drives extends at depth – now confirmed via lower development drive 966 intersecting the Panga vein including 2.40m @ 8.55% Cu and 2.90g/t Au (entire width of the ore drive).
As announced on the 27th of Feb, ores toll treated by ENAMI and deemed to be say 7.5% Copper receive a payment of $329 US per tonne. Development mining costs are said to be $54 US per tonne. Simple arithmetic reveals a profit margin on this ore from Panga of $275 per tonne. I am not saying that we will see that sort of grade from the whole of the tonnage from Panga but we would only need about 1820 tonnes of this stuff for a gross profit of about $500K.
Two posts in one day out of 4 years I think I must be bored
MNE Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
