Agree it’s unfortunate they chose to run with what was an...

Agree it’s unfortunate they chose to run with what was an earlier expectancy of gold going to $1,700 to $1,800, whilst attracting investors, but it still will, just a matter of time, hence maybe the reticence to reduc it for current levels.

However what is most important is the cost of gold produced and their DFS forecast is for average operating cost of $618 oz.

This cost to produce still beats the hell out of NST, ALK, and many others including majors who are greater than $900 oz with many over $1,000 an oz.

e.g. Using your current gold price of AU $1,574 oz the original 65,000 oz p.a. is worth $102.3 mil, less cost to
produce at $618 oz is just over $40 mil, leaves $62 mil profit.

Compare this with say $1,000 oz production cost of many other gold miners, that 65,000 oz cost being therefore $66 mil, they would only make $37 mil profit ! That’s $25 mil less than what MYG would make !