re: Ann: Phoenix to stage development project...
Kinzu, I know about MYG's arrangement with sandstorm. My point was that MYG used a price of 1550 AUD in their DFS (and that is reasonable) while PXG used a price of 1350 AUD. Despite the difference in price of gold used for analysis, the NPV for PXG is still significantly higher at 153 mill vs 100 mill. If the same gold price was used, PXG's NPV is much higher at 260 mill.
MSR has a very low cost of production but that is probably because labour/material costs are low in Kyrgyz republic. I'm not sure about the sovereign risk of that country though...
PXG has a JORC of close to 4 million ounces. If we can get this project going via financing or joint venture, we'll be able to pay for ongoing exploration to convert more ozs to reserve.
PXG Price at posting:
16.9¢ Sentiment: LT Buy Disclosure: Held
