Starlight $126.5M EBITDA within 9 months.
Starlight surface expression 115m x 25m x 26m (after stripping 2m overburden) to extract 200,000 tonnes over 12 months at a grade of 8 g/t au for 53,333 ounces (recovered grade after processing in first 12 months). IMHO this is a conservative estimate as drilled grades in this area are "jewel box" grade.
Please see previous breakdown of CAPEX and OPEX. 3 months of total operating, admin, and set up costs to extract 25% of 53,333 ounces = $1,982,500 = 20% contingency = $2,382,500 required up front.
Gold price US$1,910 / A$2,655 x 53,333 ounces = $141,599,115 less total CAPEX and OPEX of $15,130,000 = $126,469,111 EBITDA
Last reported cash reserve was (June 2020) $11,069,005.
IMHO JORC will be +1.0M ounces (to 250m depth) Great Fingall analogue shows gold at 3,000m depth.
MGV will fast track Starlight open pit. Current funds are more than sufficient to complete current recon program, which is having excellent results AND bring Starlight to production.
IMHO share price goes north of $2.00 with next 6-9 months as Cue gold camp has massive exploration upside from both 100% ground and JV with EVN.
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