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10:59
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Originally posted by johnken
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Musings from the AGM Michael Quinert is to SA over the next two weeks. The removed ore is as stated and several methods for measurement are satisfactory The original dirt mover (who was a bit slow) has been supplemented. Determinants of profit (money flow) although there is no arguments need to be signed of before cash flow will be on a monthly basis . There is one month outstanding. The first cheque of $300+k follow pt 4 The tonnage will quickly escalate to 14000 ton/month Once cash flow starts ,further infill and historical results review expected to dramatically increase resource to 2.3mil oz from current 1.3mill allowing increase in ore sales Mintails SA and other contractors making good money at current gold prices, would have to fall to $900/oz to close down due to unprofitability. Gold production reports are up some 60% from the plant with room to take double or more feed from WWI. There are many other miners in the local surrounds that are keen to get some ore. Some new methods are being used to overcome the tradition water problems making more ore available. Then there is the possibility of further review of the company’s exploration targets surface and underground. Of special note is the Rand leases ,all proven gold reefs with previous shallow workings that could contain over 3 mill oz. THIS SHOULD NOT BE UNDERESTIMATED Any deposit would be keenly sought after by local majors at say $25 /oz
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Thanks for that, you've answered all the questions I would have asked and a few more besides. On-the-ground reports from AGMs for people who can't attend are always appreciated.
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