? The company expects to achieve around 500,000 ounces of high-grade metal in the initial resource at Central Bore,?
From the assays already completed I think we?ll get pretty close to that figure so
750,000 oz @ $18 Ev/t (low grade)= 13.5 mi 500,000 oz @ $25 Ev/t (high grade)= 12.5 mil MC = 26 mil or approx 13 cps (+ I think they have a couple of million in cash)
Now at Hann where grades of 429g/t Au from soil samples have being found and as mentioned by others some expect it to be larger than Central Bore. So if the current drill campaign is successful and we get an extra 500,000 oz MC = 26 + 12.5 mil MC = 38.5 mil or 19.5 cps (undiluted)
So plenty of upside and I reckon my figures are probably on the conservative side because once you break the one million ounce ( JORC) figure the market seems to take a bit more notice. So I reckon EKM is still looking pretty good its just a shame they?re not in West Africa where we could give them an Ev/t of $40
Anyway good luck and fingers crossed
EKM Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
