This is of course what got everyone excited about MUN:"The...

This is of course what got everyone excited about MUN:

"The Engenho Project is forecast to produce at an initial annualised rate of 34,000 ounces at a forecast cash operating cost of A$325/ounce. This will generate forecast earnings before interest, tax, depreciation and amortisation (EBITDA) of A$17 million per annum, based on a US750/ounce gold price.."

It is reasonable to expect that current cash costs can be substantially reduced in view of the initial costs involved in ramping up development.

Considering the high AUD price for gold relative to the USD, if MUN can get the AUD cash price down to AUD500 or less it will be a great little earner with plenty of spare cash to carry out value adding exploration/development plus a growing share price which will also make it realistic to place a few shares to add to the kitty for general working capital.