Colin
I hate to be pedantic but the latest update of Ravenswood last July said the average for the project was down to 115k oz/pa - and it only reaches that total 2 of the first 7 years. Mining dirt that grades only 0.8g/t is always going to be problematical even for the best operators. The amount they'll have to spend on pre-stripping these two pits amounts to over $100mil and total capital to be spent in the first three to four years amounts to $200mil.
I really can't see anyone putting up their hand to buy this operation and that's probably why they have the spin-off option - but with the amount of capital required I don't see how that works either.
I'll stick to my valuation of $40mil and if anyone offers that they could get knocked down in the rush.
Colin I hate to be pedantic but the latest update of Ravenswood...
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Last
40.0¢ |
Change
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Mkt cap ! $1.543B | |||
| Open | High | Low | Value | Volume |
| 40.5¢ | 40.5¢ | 37.5¢ | $22.35M | 57.19M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 14881 | 39.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.0¢ | 668567 | 8 |
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