There are a lot of factors in mining and treating ores, so very hard to compare. Lot of people put a lot of effort into this area, for not much return. The site specifics are the detail, and the devil is in the detail.
AMX and GRY prob have similar strip ratios. GRY grade higher, but they have to truck. Both have good ground to dig in, but not a free dig unfortunately. GRY look at a NOV 5% Rate at about $328m for $1600 per ounce, which I assume is on their reserves, so the conversion of reserves to resources is one to watch for both. Price of gold is a big player...if its $2000 per ounce then NPV 5 % climbs to $618m ! So if then they convert 75% of resources to reserves and say grab another 1 m ozs reserve...well, you can see how things can move around and up very quickly.
I have just returned from Singapore, London and Brussels, and there are some interesting private discussions going on about the price of gold. The relentless printing of money is a real concern, and when this is added to no real productivity or asset increases to underpin the paper, well all bets are fairly well off. There are some very sick looking economies out there, a lot would simply have to shut up shop, but of course they cannot do this. As an aside, just imagine what Australia's economy would look like without the Resource Industry?
It would appear that there are some very large players who stealthily are getting set for some upward movement in gold, and I am not talking about miners...but some of the players appear to be taking an interest in funding gold mining projects which suit certain criteria. Thinks scale.
AMX has a lot of things going for it in a FS. All of the ounces are in a 5kms diameter is one. I am fairly relaxed if AMX do not run up a lot more oxide ounces, but they need to get about 350k ounces to make the project sing, and this is where there will be a lot of traction.
I think some of their geo models will be shown to have been conservative with time. If they really have a good look at what the artisans are doing, they will realise this. But better to be conservative than the other way.
In the mean time...resource upgrade, some exploration results...more oxide...FS and away
Must run.
AMX Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
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