(Spec) Gold Turnaround Story of 2018, page-47

Hey everyone

Just reading through the AGM presentation and it looks like there are lots of informal miners around Miraflores and on page 30 it seems one of the processes with locals did not conclude positively.

I'm also curious about the economics of Miraflores, obviously it seems positive though the IRR is around 25% not super high given the longer mine life vs yearly extraction.

What value are people putting on Miraflores? In my mind it seems like it may not proceed due to CAPEX, IRR and local engagement. This analysis is only from my assessment of the slides, I haven't spoken to the company.

The other exploration work underway could be interesting and obviously create newsflow from a short term perspective.

The reference that the other site is near Miraflores makes me think that they could potentially form part of a single project, although if there are issues getting this project off the ground then could the same social issues persist even with the new exploration work?

I guess these sort of granular considerations mean less if they get some amazing early results, though just thinking this one through a little.

https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvSTYO6gq8yhGZrfl6ke92GA==