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clock Created with Sketch. 02/02/18
12:10
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Originally posted by john435
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It's obvious the strip ratio in the first 3 months hurt but it was always obvious the first few months was where the bulk of costs were going to be accrued.By now they are into the orezone without the big strip ratios of the early months.I think at the end of the trial mining they should be able to complete the exercise with a still healthy profit of at least $3.5m from a little more than 10,000 ounces .That will be money in the bank that hasn't come from issuing further shares Then they'll have a decent open pit and be able to do the sums to work out how profitable it will be to build a longer term mining operation there. Then look at Red Dog ,it's shallow and around 25,000 ounces in the indicated category so it should be a very profitable little deposit as well . Add onto that the 99,000 ounces of gold resource at Red October then I believe over the course of 2018 Matsa should generate lots of dollars from the Laverton area.
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Today in Germany test mining profit was estimated between 2 and 3 Mio AUD. Fortescue mine calculations are expected 6 to 8 weeks from now. 18 cents is considered a very good entry price
