Yes ... he's doing what we should be doing. The mining...

Yes ... he's doing what we should be doing. The mining contractor pays all the mining and capital expenses and covers the working capital and they split the profits 50/50. Based on my calculations and the figures to the end of December 2023, it should give them $24m net cash in bank if they mine the 47,900 oz. It's lowish grade so profit not huge but it funds their ongoing exploration and operations without diluting shareholders. Only 143m shares on issue so good growth potential for holders.

Sold 9,941 oz to end December at just over $3,000 oz. Looks like the costs were $2,000 oz, profit $1,000 oz split 50/50.

Toll Treating agreement.
45n6mycv0y3dk3.pdf (asx.com.au)