As I wake up this morning on the first day of the second quarter in 2025 and my goodness!! I read that gold is $AUD$5,000 oz.!! (not that many of you here wouldn't already be aware I imagine). That's a nice round figure to do the maths!
If we are to receive the 6% of min 60,000 oz by the end of May next year that means that, let me see, mmm $300,000,000 worth of gold has to be processed through the mill in order for us to receive our $18,000,000 being the 6%. That's if Pan African Resources doesn't put its hands in its pockets to pay out the existing arrangement and pay solely through the processing of material through the plant. An interesting scenario. That's $300 mill worth of gold mined within 14 months from now. They will need to get busy soon which seems to be on track. Not long now! Not bad!
Are we going to need a bigger plant?
Not insignificant sums of money now!
ERM Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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