Not to mention the potential of getting the cost down by finding more ounces. Which is exactly what they seem to be doing with more drilling.
The issue here i guess was that they needed some balance. Either buy something for a much higher dollar value but lower dollar cost per ounce, or something cheaper but a higher dollar cost per ounce. Then i guess they looked at the potential of the area to see if they could build on what was already there. The fact that there were some higher bids to the deal and multiple bidders certainly suggests interest.
In addition some risk has been taken out by already having a mine (WD) thats producing probably for at least another year. And they still have cash to build on Mt Magnet and WD from existing CASH funds. Now we have the potential of both Mt Magnet AND WD to increase beyond current life.
Not to mention the potential of getting the cost down by finding...
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$2.14 |
Change
0.040(1.90%) |
Mkt cap ! $2.456B | |||
| Open | High | Low | Value | Volume |
| $2.09 | $2.15 | $2.07 | $5.340M | 2.516M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 96948 | $2.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.15 | 39393 | 3 |
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