CM1 0.00% 5.2¢ coolgardie minerals limited

Viability

  1. 266 Posts.
    lightbulb Created with Sketch. 90
    I am struggling to see the viability of this Geko operation

    According to the FS total costs of $99m on a $127M revenue and a few million in establishment costs

    This includes haulage @ $7 odd tonne so can only be going to a close mill for $7/T. We now know its going to the mill out on the Kambalda road so haulage is going to be significantly higher. Yes this is for the first parcel but doesn't match FS. Going to that mill costs likely to be double the $7/T
    Mining contractor financing mining until revenue producing-How long will that be? This wont be for free. And given the very high strip ratio and very low grade of the resource it is going to take a very long time for this to be cash flow positive

    10% of first 25000 oz rev to BNR

    In a booming mining market, very high strip, low grade project together with a management team that have no proven record and absolutely no money, by the time royalties, all contractors and financiers are paid is there going to be anything left?
    Is there enough to pay all the above
 
watchlist Created with Sketch. Add CM1 (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.