The other important point about Richard Crew's previous experience from the 2017 Annual report:
This experience will be invaluable when re-start of Antenna cranks up. Keep in mind that there is exploration drilling IN ADDITION TO pit optimisation studies for mining recommencement being carried out. They know there is gold there, just working out the best plant to restart.
The hold up hasn't been the mining, it has been processing, and we now have both 25 tph Big Harry and also 50 tph Big Bertha onsite and ready to go. Big Bertha has been equipped with a mobile diesel power-plant to be portable to assist with reprocessing the previous tailing that the evidence shows has considerable gold. This is all about logistics in that the tailings obviously don't need crushing, so there is no need to put pressure on the rock crushing part of the process mill. The tailings only need to be pulverised into powder and put straight in to the gravity plant, bypassing the crusher and thus increasing the feed rate. Who knows, maybe we will have a portable crusher/s at Antenna and eventually move Bertha down there too. This means that any ore will become much more dense if it needs to be transported, as well as not damaging the trucks with large rocks.
Despite Anglo Gold's strategic position to stop others, they can't stop us ...and a our largest shareholder why would they want to -money for Jam? They have been a great partner that we would not have survived without and indications are that they are amenable to negotiating a positive outcome for all parties. We also know that this will only occur when shareholders receive value for money ...cause Jeremy told us. This is not set up for a cheap takeover and ultimately we could well remain a major partner in any JV, providing ongoing value -cheap takeover would see me spending 10G and asking questions in the highest places. Not going to happen IMO.
You have really done my head in this time q ...we expect to be cash flow positive this month and making a profit next month ...and you are worried that we will only have $4 Mill in cash on July 1st? That is next financial year my friend and indications are that we will have millions in gold revenue by then. $2,000 Oz is probably conservative anyway and is still over AUD $3.5 Mill cash -well exceeding costs for May and June combined.
I think you are on the wrong track here old mate. I concede that there could be other issues such as tsunamis or a plague of locusts that may happen -sorry to cause you further worries.
Exactly Jimone, its looking good. I predict all manner of FOMO increasing this month.
Cheers,
SJB
OGX Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
