PFS showed a AISC of A$1020 with expected 200koz recovered and a modest CAPEX of 34 million and a payback of under 2 years. NPV(8) of $58m with IRR of 57%! Pretty good numbers.
DFS expected at some point in the next 2 weeks.
- Introduction of ore sorter estimated at $5m (probably a high figure) which will reduce OPEX and hopefully bring AISC under $1000.
- 30% increase in resource size. Which in theory should add another 60koz (or over $35m pre-tax if AISC is unchanged, more if it improves).
- New drill results identify hits outside most recent resource upgrade.
- Spot gold price is a bit over 5% higher than the PFS and outlook on gold is bullish.
- Modest CAPEX, ready to build with near term first pour
- mcap 31m with 12million in the bank already - so an EV of 19m! (less than 10% shares unlisted)
DFS to build on PFS and improve in just about every department. Am I missing something?
Talk about being right in front of your eyes....... Feel like giving the market a shake and shouting WAKE UP!
EGA Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
