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28.5¢ egan street resources limited

Ann: Outstanding Results from Ore Sorting Testwork at Rothsay, page-6

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nordesmic

3,000 Posts.

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09/01/18

11:03

Post #: 30152822
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Originally posted by Davisite ↑

It really changes the economics of the project. The ultramafic hanging wall was always a potential problem due to its fragility and it scared off a lot of potential miners of Rothsay. Sorting the material coming out will make a massive difference to the AISC of Rothsay and have a major impact on the economics of the project.

If the market was rational we would see a 20% rise in the SP today, but given almost nobody follows EGA I suspect we will close flat or slightly up. In the end once the gold starts pouring that is all that matters.

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I sold out a few months ago because not much was happening. Bought back in this morning. Lucky I read it because usually something like testwork isn't a big deal.

I assume the ore sorter is able to keep up with the mining rate as we're only talking fairly low scale at about 700 tonnes per day or 30 tonnes an hour.

EGA Price at posting: 30.5¢ Sentiment: Buy Disclosure: Held
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