AYC - A1 gold mine now in production. First ore zone being mined...

AYC - A1 gold mine now in production. First ore zone being mined hosts 5,000 tonnes @ 15.53 g/t au for 2,504 ounces of gold; contained within a larger zone of 28,000 tonnes @ 10.5 g/t au for 9,483 ounces of gold within a broad mineralized zone. Airleg miners are recovering gold from narrow veins with much higher grades of up to 24 g/t au within the environs of the areas being mined.

Current process rate is at around 2,500 tonnes per week, so current zone of 28,000 tonnes will take 11.2 weeks (several weeks already completed) to mine and produce 9,483 ounces. Guesstimate recovery at 90% for 8,836 ounces to produce free cash flow of $750 per ounce for $6,627,000.

Several hundred thousand tonnes of confirmed economic mineralization @ 6.5 g/t au which is being re-drilled and looks much the same as the first 28,000 tonnes at 10.5 g/t au. IMHO we are going to get some spectacular drill results coming through in the next 6 months.

Paterson's forecast an EBITDA of $20 million in first year. My uneducated guess at 3 x EBITDA of $20 million = $60 million or $0.09 cents. Currently 3 cents, this baby is gonna fly. Good luck to all longs.