"Production from the Santa Rosa tailings is expected to total around 10,000 ounces per annum, of which CGU’s share is 1,250 ounces." _______________________
Assuming a gold price of $1500 per ounce, at a cash cost of $500 per ounce:
1250 x 1000 = $1,250,000 revenue annually before tax.
Current Market cap is $2,230,000.
Not a bad deal!
And management obviously respect shareholders:
"Executive Chairman Chris Battye and Director Wes Harder continue to postpone their respective Board Remuneration until the Company enters production mode."
Probably because Chris Battye holds 22% of the stock himself!
CGU Price at posting:
4.5¢ Sentiment: LT Buy Disclosure: Held
