I am watching unfold the current development for several months but unfortunately do not have enough capital to put money into this one. In the good old days I sure would have.
It is a pity they had to abandon one hole for the time being (FRC014).
If you do a quick evaluation of FRC002, FRC013, FRC014, FRC016, this alone could turn out to be 50k ounces once infill drilling is done. Given the low processing costs due to location this could already be worth more than current market cap.
And that means everything else - speculative of course - is just upside for free. There is a the chance this one will turn out to be something very large. Grades are somewhat low, but consistency is way more important.
Note that the grade is very similar to the Fimiston Pit.
AAR Price at posting:
8.4¢ Sentiment: Buy Disclosure: Not Held
