Resource Estimate currently totals12.4Mt at 2.97g/t Au for1,190,600 ounces of gold to be updated from the results from the latest drilling program (imminent)
POG is around AU$2,200/0z
This is low to medium grade gold, lots of rock to extract the gold from. Estimate of all-in costs: $1200/oz Profit around $1000/oz 1,190.600+++ @ $1,000 = wow! Some risk if POG goes down over the life of the mine Strong suggestion that the jorc will increase with new results $30m to refurbish the mine is peanuts compared with the numbers above Venus/Spectrum at PW have much higher grade gold and will need to use the RXL mill. IMO Rox and Venus have the economic basis for a viable mine (even without PW). I am now BUY RXL and VMC
VMC Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
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