It will be interesting to see what silver price they use in the soon to be released PFS. In years gone by, as you would know Goldy, the project was on hold until prices went above $30AUD/oz. Current price $30.70. Add to this the fact they have reduced cut-off grade down to 30 g/t. I think they need 35+ to make this work.
Perhaps a major is bailing because they think the market wont like it when the PFS comes out with a $35-40Aud Ag price ( ~26-30US) when the market is currently at 30??
I am confident Ag prices will rise otherwise I wouldnt be here, and I think this project is econmic at 35+ regardless of satellite extensions, but if they release the PFS using Ag price above market I think we might get some more short term downside.
Not downramping just putting my thoughts out there. When Ag gets moving (which it will sooner or later) we will fly again, so its still a comfortable hold for me regardless.
IVR Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held
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