Just a brief example of costs catching up with expectations. ONX have just bought Pennys Find off ERL. That open pit after all the dust had settled made them 5%. Spend ~$30M, make ~$1M.
If ONX want to start Pennys Find UG soon they will need to spend est. ~$5M (a guess) to get the underground sorted so they will be looking for funds externally.
If you start adding these contingencies and a blowout on expectations on costs 5% lower grade here, 5% dilution there suddenly you realise why the 200,000oz resource is being accurately valued <$50M
Mineral Ventures Model, page-19
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Last
2.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $111.0M | |||
| Open | High | Low | Value | Volume |
| 2.5¢ | 2.6¢ | 2.4¢ | $95.06K | 3.804M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 807506 | 2.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.5¢ | 11602 | 1 |
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