VANGO’S K2 TENEMENTS, page-79

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PulpCutter

1,237 Posts.

350

12/04/22

02:19

Post #: 60795428
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Originally posted by PulpCutter: ↑

"...ZAG and Billabong are desparate to get their hands on Vangos ground..."

Keep dreaming.

At some point, it may dawn on Vango that it has to come up with some other business plan than the one you cite above.

Superior is throwing off operating cash flow like a fire hydrant at these spot gold prices. Plutonic Underground is (still) a huge mine - 5 million ounces of reserve - and is obviously quite strong leverage to rising gold prices.

The 1.8 MTPA mill was just tuned-up, and is in prime shape at the right time. 2.5 g/t Main Pit Deeps ore is now replacing 0.7 g/t Perch pit feed. Plutonic Underground production to be moving from 830k tonne/yr (FY2021), to 900k (Q1/2), on to 1000k (end of FY2022), and then on toward 1250 (FY2023 goal).

Then there's the 1.2 MPTA second mill, on care and maintenance. And it's not like Marymia is the only deposit in the area.

Superior's business plan has been to build a productive, cash-flow positive business. It's worked, and it's only getting stronger.

Western Australia doesn't let you just sit on claims. Vango needs to spend $100/hectare/year on development, and $22/hectare/year on rent to Western Australia. On 317 km2 of mining claims, it's costing Vango $3.9 million/yr to sit on those claims.

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Meant "5 million ounce reSOURCE", which is one of the reasons Plutonic UG has high leverage to the gold price.

Last edited by PulpCutter: 12/04/22

VAN Price at posting: 4.2¢ Sentiment: Sell Disclosure: Not Held
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0 Great analysis

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