Agree good map PCS007 impressive address for mines and working mills - looking at the slides they have obviously done some mine planning work previously as they have lots of ready to mine and defined block models etc... and are basically proposing to selectively mine the best of the JORC ore bodies.
As they are drilling right now it looks like a mix of resource definition and expansion drilling with some follow exploration on a few near by high grade hits. Aim to increase the size of the resource.
At these prices and being this advanced and with Mills next door looks like they are on a winner time to suck up a few more.
53k minable ounces at $1520 Aus gold price = $80m is they can make 20% that's $16m profit - most mines run at more then 20% profit and is they add more ounces from drilling its a great cash top up for he company so $16m divide 349m shares would equal 4c per shares cash backing? These project normal plunge deeper underground and get bigger so it would be no surprise if they make a lot more out of it or find more near by?
IMO DYOR -
TMX Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
