It is clear that the metallurgist (Price) and the mining engineer (Bilbe) have overridden the chartered accountant (Parekh) here.
Mine as few tonnes as possible to maximise the amount we will be milling ourselves. Er….hold on fellas.
That is fine in theory but we are not generating any money at the moment. And you have now been negotiating with FMR over the mining and milling of a 200,000 tonne parcel of dirt to produce 15,900 ounces for probably in excess of 15 months and dont appear to be close to concluding these talks any time soon due to the complexities. Meanwhile gold is over $3,000 an ounce today.
in the last six months the company has proven up another 82,000 ounces at
Golden Ridge North and Monument alone with a hell of a lot more to come from its leases.
We should have been mining one or two of the open cuts to generate the money to provide the equity portion of the construction cost of the mill together with the RVT share sale proceeds.
It is clear that the metallurgist (Price) and the mining...
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Last
4.8¢ |
Change
-0.002(4.00%) |
Mkt cap ! $35.04M | |||
| Open | High | Low | Value | Volume |
| 5.2¢ | 5.2¢ | 4.7¢ | $20.77K | 415.5K |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 45718 | 4.7¢ |
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| Price($) | Vol. | No. |
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| Last trade - 11.31am 15/05/2024 (20 minute delay) ? |
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Last
5.0¢ |
Change
-0.002 ( 3.95 %) |
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| Open | High | Low | Volume | ||
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| Last updated 11.31am 15/05/2024 ? | |||||
| HRZ (ASX) Chart |