As a long suffering RED shareholder RF/GMD have my vote if and...

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Exised

6,099 Posts.

2786

18/09/23

14:28

Post #: 69901540
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Originally posted by zog: ↑

Have to agree that all ozs are not the same and as you say refractory gold represents challenges (depending upon how refractory it is). Problem is that GMD bought that resource/reserve from SBM (enhanced by what SBM bought from Bardoc) and has to decide what to do with it. I understand that RF in the past didn't want to get into this issue but (like DEG) he is faced with it and either has to decide to abandon it (in which case he bought a pup) and do something about it and get into an Albion or POX process to get value from it'it will be interesting to see what he does but he (like DEG) has a dilemma.

Also as you say Gwalia is now getting deep - it needs a shaft to augment the decline and that's Capex (as lot of it) or open up the refractory ore and/or do a cut back to exploit available SBM resources/reserves (also capex)

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As a long suffering RED shareholder RF/GMD have my vote if and when the time comes. This would be the same story as the long suffering DCN and SBM shareholders. We know how the story on those went.

Also. We can talk about the gold price, resource, reserves, production oz and production cost until the cows come home but those don't matter much. It all boils down to which am I going to make more accretion out of LT, that would be GMD hands down... go for the better management always.

Last edited by Exised: 18/09/23

GMD Price at posting: $1.54 Sentiment: Buy Disclosure: Held
13 Upvote

2 Great analysis

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