Placement $6 mio with directors anticipate offering non-renounceable entitlements issue expected at 1:10 (raise up to $4.26 mil) at $0.04 cents
21.5% discount to the close 5.1 and 16.6% discount to 10-day vwap $0.048..
Why ?
- Highly prospective exploration play
- Prospective areas outlined for further drilling success, drilling underway at high probability targets – See last two announcements
- Large scale 2.6M oz of resource, 1.1M oz is free milling
- Resource Target of +3M oz
- Recent Zoro results indicate a larger UG resource >500,000oz
- Drilling results to come from Mulwarrie and Aphrodite
- Grades achieved at underground (Aphrodite) are high grades 5-6g/t Au, minimum production rate of 500,000 tonnes per annum.
- The Aphrodite resource is open at depth, may deliver critical scale for the development of a milling solution for sulphide ores in the district
- Underground ore is sulphide and refractory (Aphrodite only)- metallurgical recovery although test work using the Albion process has been successful
- Albion metallurgical process is cheaper than higher tech Pressure Oxidation (both capex and opex), ability to design optimal mill for the ore
- Bardoc Gold’s EV/Oz of resource is cheap vs other gold development peers <$20oz
- Acquisition or corporate transaction potential - potential mill feed from open cuts < 20kms from Paddington able to be treated with standard CIP, Paddington mill has already treated Zoroatsrian open pit ore.
- Feasibility work on going for standalone development
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- a few facts ... What i have been told
a few facts ... What i have been told
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