What continues to rile me is at 40,000 tpq and 5 g/t (and say 90% recovery and 1750 gold).
Revenue - 40k x 5 x 0.9 x 1750/31.1
= AUD 10.13m
(so circa $2.5 to $3m free cashflow)
At 6 g/t,
revenue = $12.16 million.
A quarter!!
Yet, the farm looks likely to be 'sold' to the major shareholder and other parties well known to CTL management.
Lucky for some?
Ann: Extension of time to hold AGM, page-95
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