well done nicto, mouth watering numbers to say the least
even if we take a conservative position and reduce your numbers by 50%, it is still a very attractive proposition!
Extract from last ann re Madagascar >>> This company will undertake the initial work program and construct an open pit of 140 metres in length to a depth of 12 to 15 metres along the strike line. Cluff plans to test at 5 metre intervals along the pit with particular emphasis on the pit floor, and test and analyse the stockpiled material from the excavated pit. The planned stockpile to be created in the first 3 months of the operation will be approximately 15,000 tonnes of gold bearing material <<<
Using your calcs, if we base the $ value outcome on 15,000 tonnes, we get a result of approx $2.9M to CFR! This is only from a piece of land that is 140 metres in length to a depth of 12 to 15 metres! Let's half that expectation soas no-one can be accused of ramping here. Still $1.45M
Not bad! Not bad at all!
CFR Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
