Simple, no downramp. Pure proof from company releases.Taken from...

Simple, no downramp. Pure proof from company releases.

Taken from DFS release by MYG
http://hotcopper.com.au/announcements.asp?id=487175

Recovered gold ounces is 479685oz au eq.

Total cost would be to add from the table above (same numbers)
412+29+91+73+9= 614m

Divide this figure with recovered gold ounces and you get a site total cost (just on the project)of 1280$/oz.

This figure is the optimistic one as debt charges are 9m$. Is MYG seriously going to borrow over 50m and pay only 9m$ interest?

Does not include Sandstorm deal where they have to sell gold at discount. Does not include admin costs (as it only includes site admin). Does not include exploration, contigency nor working capital till gold pour.


Pretty plain to see that this mine is only viable if gold is over 1500$. To new holders i urge you to take caution when reading the published cash cost of 600$++/oz. It is C1 costs and is very misleading as C1+C2 are more applicable to underground miners. Educate yourself on this.