Hey parrot,
"There is every chance imo that gold could be well above US$1400 by the anticipated gold production date"
Do you expect them to be in production tomorrow?
I think management is a bit more conservative than that.
They have a base case of only $ 950 PLUS "Inferred Resources of about 118,000t at 2.3g/t Au containing 18,000 ounces of gold within the existing pit designs are classified as waste in the FS."
If I simply extrapolate the project snapshot to todays $1,400 I get a $369 million EBIT and only 8 months payback.
Cash cost @ $505 is also very low.
We only have to wait to 2011Q1 to get an updated resources and reserves estimate with even more gold , probably at a lower cash cost.
But I'm not sure Perseus will still be around at that time. I think someone might try a takeover before the next update.
Hey parrot,"There is every chance imo that gold could be well...
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