Rowingboat
Thanks for mentioning the very recent BMO conference (mentioned on the gold thread) where CGX made an important presentation setting out its plans.
How come CGX did not release a press statement via the ASX about this like most other companies. This stuff is really exciting.
http://audability.com/AudabilityAdmin/Clients/BMO/10938_228201180000AM/primary.aspx?Event_ID=938&str=CGAMining&typ=Archived
Some key points are:
. A resource upgrade to come from their exploration activities in mid year
. Milling capacity has increased to 6.5 tonnes resulting in annual production of over 200,000 ounces (around 230,000 ounces I think);
. Plans to expand production to 350,000 ounces in the near term (via another 3.5 million increase in milling capacity) - this will mean annual profits of about $175 m pa - expansion to cost about $75m which they can fund internally
. King King project has an in-ground value of $30B - huge potential
. CGX is becoming a cash cow - lots of potential
. They are thinking about future dividend policy
. SRM is of interest to them in case they find something
The BMO presentation has more information than what is on the CGX website, and it is worth a listen.
No wonder the price is holding up so well today. Sellers are just plain foolish.
Loki (I am excited)
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- important presentation - thanks rowingboat
important presentation - thanks rowingboat
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