570,000 tonnes was at 30 April 2018. To HAV's detriment, CMC shut-down the mine in August 2018, so that tailings tonnage would probably be higher by then. Was the shut-down part of Radford's cunning plan all along?
Adding to your calculations, Gold Tailing Revenues 570kt @ A$1785/oz (100% basis):
LOW 0.21g/t = A$7.6M MID 1.06g/t = A$38.4M
HIGH 1.91g/t = A$69.3M
Explains where the balance of the gold from the JORC resource is sitting: the tailings.
Beggars belief that Stewart and Richards effectively gave away this valuable asset for a paltry 2% royalty.
HAV shareholders deserve better!
DYOR
HAV Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
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