Bought some shares today...im attracted to the copper drilling [email protected]% from surface and [email protected]%. Surely there is a big deposit down there at The Trump?
Near term gold production + cobalt credits at Gilded Rose & Mt Freda with JORC expected in May 2018. If they can size up total resource of 500k Oz, and mine 100k Oz per year for 5 years, thats conservative clean profit of around $15m per year by selling the ores. One month away to JORC with mining lease all ready to go. Existing commercial relationship with Washington Soul Pat established+ the management is currently in discussion with multiple parties on offtake agreement.
The near term revenue from low/ no capex copper+gold+cobalt operation can be reinvested to drill out the 5000sqm tenement at Burra.
Seriel seller seems to be out there st large..most likely the boys and girls from CPS. Will eventually dry out. For now Im happy to keep this in the bottom drawer and look at it again in 12 months.
AMG Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
