Having a lower start-up capex relative to market capitalisation improves the funding equation by requiring less debt and less equity. That translates to a faster restart of the Youanmi mine with its 2.2Moz Au at 6.9 g/t Au with high grades preserved (6.9 g/t Au resource average) plus another 1m oz Au near surface oxide refer milling ore, The move from a sulphide circuit to the concentrate model should lower Capex by $20m. The cost saving is especially worthwhile because the 25% proportion of Youanmi ore that is refractory is not contaminated with arsenic so the concentrate will attract a high price, Combined CIL/ Concentrate sulphide ore bodies at Youanmi have a recoverability of 94% - 96% Further details will be in the Scoping Study due this Quarter.
RXL Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
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