A little minnow capitalised at $20 million on the market. Why? There is a sizeable deposit of low grade gold, but like Cadia, the type of ore is cheap to mine and process on a per Oz basis. Not much unprofitable byproduct to get rid of. This is not narrow vein gold which is the death of many a small miner after they try to make it pay. Hill End, et al could go on and on. If this goes deeper and bigger below the 1000m the potential economies of scale will kick in. Cadia/Northparkes have cost per oz of $300-$400. A lot of dilution happens in these new discoveries to get exploration money, so I sometimes think they are better teaming up with a big or bigger brother who has the financial muscle and the mining and finance expertise to make it work. A very attractive bottom line is possible with this sort of ore.
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A little minnow capitalised at $20 million on the market. Why?...
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