Had a look at legends december quarter report and found the following things interesting.
Legend acquired the gidgee mine on 17 december. they owened the mine for 2 weeks and these 2 weeks were quite slow since both legend and abelle reduced work and inventory levels to help with reconciliation in the handover.
in this 2 weeks, they produced 2287 ounces of gold for $1.2 million revenue and positive cashflow of $470,000. Some quick sums based on this data would suggest the gidgee mine can clear $1 million cashflow per month.
The other interesting comment I noted from reading announcements is that the deeper Legend drills the better the results are getting. This may explain Abelles willingness to sell. Maybe they didn't get deep enough and in the right areas.
LEG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
