Hi Bond
Using your figures and then taking off some for breakdowns etc we get around $4m AUD in revenue per year @270oz a month
Not huge, obviously, but not bad for ~$11m market cap
I say they should grab a couple more of these 400kg machines (if they can provide continuous *HIGH GRADE* ore as you say) and they'll actually be getting somewhere
Almost looking like a buy imo... almost
I reckon it's enough to keep their heads above water for now. Prove they can mine 270oz a month and then take a loan to build a CIL or ball mill, pay the minimum repayments on the loan, halt exploration and then use the rest to pay the staff. Directors may even have to not take a wage for a little while.
Slowly but surely hey? Do you know if these mills can recover gold at a decent rate for ore that isn't high grade?
Around .005 I'll be interested.
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